§ Mr. Brightasked the Secretary of State for Industry when he expects further lending institutions to participate in the small firms loan guarantee scheme; and if he will make a statement on the progress of the scheme so far.
§ Mr. MacGregorIn addition to the London and Scottish Clearing Banks and the ICFC, which have been operating the scheme since 1 June, the following banks will be participating in the scheme from 3 August: Cooperative Bank Ltd., Hill Samuel & Co. Ltd., the Yorkshire Bank Ltd., the Allied Irish Bank Ltd., the Bank of Ireland, the Northern Bank Ltd., and the Ulster Bank Ltd. A number of other lending institutions have applied to join the scheme and their requests are being considered.
In the seven weeks since it was launched, some 180 guarantees have been given covering loans totalling over £6 million, and demand remains buoyant.