§ Mrs. RocheTo ask the President of the Board of Trade, pursuant to his answer of 13 February,Official Report, column 278, what criteria for new lenders to the loan guarantee scheme have been agreed; on what date he will be writing to potential lenders; and if he will list the potential lenders. [16940]
§ Mr. PageThe criteria to be used in assessing potential lenders are
should have the expertise, experience and capacity to appraise technology based commercial borrowing proposals from both technical and commercial viewpoints;should have a proven track record (ideally of several years experience) of successful lending to small businesses;could make worthwhile use of the scheme;is reputable;should have effective appraisal techniques;should have well established procedures in operation to monitor and review borrowers;should add something extra to the range of services already available.We are aiming to write to all potential lenders by early March.
It is not appropriate to list potential lenders since interest in lending under the scheme is commercially confidential to the firms concerned.