§ Mrs. Lait
To ask the President of the Board of Trade how many applications for loans under the loan guarantee scheme have been made since the Budget; how many have been successful; and what were the figures in the same period in 1992.
§ Mr. McLoughlin
The number of applications made under the loan guarantee scheme between the Budget and 25 June 1993, the number of successful applications and the corresponding figures for the same period in 1992 are as follows:
1992 1993 Applications Received 738 644 Loans Guaranteed 738 637 Applications under consideration 0 6
The changes in the Chancellor's Budget statement which came into effect on 1 July include a measure that allow small firms which have been established for two years or more to obtain loans up to a maximum of £250,000 with a guarantee of 85 per cent.