The number of Bounce Back Loans that have so far gone sour is of course constantly rising in number, and will continue to do so for weeks, months and years moving forward.
I have been keeping track of businesses that have been wound up and personal bankruptcies in which there is a Bounce Back Loan involved when there is some form of wrongdoing associated with that loan.
Currently the total I have tracked stands at:
- BBLs: 1251
- Value: £49,672,380.79
You will find the details of each of the above cases in the following section of this website:
Some recent figures supplied by the British Business Bank indicate that lenders have put in, as of the end of April 2022, some £1.9billion in BBL Government guarantee claims, of which £840m is suspected fraud. So far, £350min guarantee claims have been paid out, of which £62m suspected fraud. Those cases of actual fraud/abuse of the BBL scheme that have been discovered are listed on the above link which is updated as and when news cases come to light.
A new set of figures that cover the entire period up to the end of July 2022 suggest that Bounce Back Loan Lenders believe there are some £1.08bn worth of BBLs that they issued are “suspected” of being fraudulent ones.
Organised Abuse of the BBL Scheme
I have also included into the above figures, the BBLs and cash scammed by the gang recently exposed in the following article:
Two Men Locked Up For a Total Of 33 Years For An Outrageous £10million Bounce Back Loan Scam