HC Deb 22 April 1986 vol 96 cc107-8W
38. Mr. Leigh

asked the Paymaster General what proportion of companies applying under the small firms loan guarantee scheme for support are successful.

Mr. Trippier

Since the inception of the loan guarantee scheme in 1981, 68 applications, 0.4 per cent. of the total have been rejected by my Department on technical grounds. The Department does not assess the commercial viability of proposals, which is a matter for participating lenders. The Department has no record of loan applications declined by participating lenders which do not result in an application for a guarantee.

42. Mr. Chope

asked the Paymaster General if he will take steps actively to promote the new small firms loan guarantee scheme.

Mr. Trippier

Many small business men will no doubt become aware from the banks of the more attractive terms now applying to the loan guarantee scheme. Information on the scheme forms part of a recently launched "Action for Jobs" promotion. I am considering what further promotion of the scheme is required.

86. Mr. Franks

asked the Paymaster General how many firms have so far received assistance under the loan guarantee scheme.

Mr. Trippier

At 31 March 1986, a total of 16,642 guaranteed loans had been issued under the scheme to approximately 16,000 firms. Firms are permitted to receive more than one guaranteed loan, up to a maximum of £75,000.

Forward to