Below is part two of all FOI’s received by and replied to by the British Business Bank
BBB Reference: 20-009-1
2nd June 2020
Dear
RE: Freedom of Information Request
Thank you for your freedom of information request received by the British Business Bank on 1st May 2020, where you requested the following information:
“What is BBB doing to make sure FinTech companies such as Tide Bank can support their commercial customers with the bounce back loan scheme? over 150,000 SMEs bank with Tide.
Are they eligible to be accredited for the scheme?
What is the status of their application to be accredited? What is the timescale for their approval if so?” Response:
We are treating your correspondence as a request for information under the Freedom of Information Act 2000 (‘the Act’). Under the Act you have the right to:
- know whether we hold the information you require
- be provided with that information (subject to any exemptions under the Act which may apply).
We can confirm that the British Business Bank holds information within the scope of your request.
Fin Tech companies are able to apply to become an accredited lender under the Bounce Back Loan scheme (BBLS) on the British Business Bank’s website here:-
https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan- schemes/bounce-back-loans/become-an-accredited-lender/
Information in relation to the eligibility of lenders applying to become accredited under BBLS is available here:-
https://www.british-business-bank.co.uk/wp-content/uploads/2020/05/BBLS-RFP-final-0.3.pdf
Information in relation to Tide Bank’s accreditation status and the timescale for accreditation is available on Tide Bank’s website here:-
https://www.tide.co/blog/coronavirus/when-bounce-back-loan-from-tide/
If you have any further queries in relation to your request, please do not hesitate to contact us.
Your right to complain under the Freedom of Information Act
If you are dissatisfied with the handling of your request, you have the right to ask for an internal review. Internal review requests should be submitted within two months of the date of receipt of the response to your original letter and should be addressed to: FOI Officer, British Business Bank, Steel City House, West Street, Sheffield, S1 2GQ.
Please remember to quote the reference number above in any future communications.
If you are not content with the outcome of the internal review you may apply directly to the Information Commissioner’s Office for a decision. Generally the Commissioner cannot make a decision unless you have exhausted our own complaints procedure. The Information Commissioner can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow Cheshire SK9 5AF www.ico.gov.uk
Yours sincerely,
British Business Bank FoI Officer
BBB Reference: 20-011-1
3rd June 2020
Dear
RE: Freedom of Information Request
Thank you for your freedom of information request received by the British Business Bank on 5th May 2020, where you requested the following information:
“Is it possible for you to let me know the number & value of :
- CBILS, &
- Bounce Back
loans respectively handed out by Funding Circle?”
Response:
We are treating your correspondence as a request for information under the Freedom of Information Act 2000 (‘the Act’). Under the Act you have the right to:
- know whether we hold the information you require
- be provided with that information (subject to any exemptions under the Act which may apply).
We can confirm that the British Business Bank holds information within the scope of your request.
We are withholding the requested information as we consider that the disclosure of this information would be likely to prejudice commercial interests and that the exemption in section 43(2) of the Act therefore applies. Relevant commercial interests include those of i) The British Business Bank; ii) Coronavirus Business Interruption and Bounce Back Loan Schemes accredited lenders and iii) Loan beneficiaries of the Coronavirus Business Interruption and Bounce Back Loan Schemes.
We recognise that there is a general public interest in the disclosure of information, as greater transparency makes Government more accountable. Against this there is a public interest in ensuring that the commercial interests referred to above are not damaged or undermined by disclosure of information which is not common knowledge, and which could adversely impact these
commercial interests. A disclosure of information under the Act releases that information into the public domain and so is in effect, released to the public at large.
We have concluded that disclosure of this information could damage and adversely affect the commercial interests referred to above. We consider that the public interest in favour of disclosing this information is outweighed by the necessity to protect commercial interests. The British Business Bank’s decision is therefore to withhold this information.
If you have any further queries in relation to your request, please do not hesitate to contact us.
Your right to complain under the Freedom of Information Act
If you are dissatisfied with the handling of your request, you have the right to ask for an internal review. Internal review requests should be submitted within two months of the date of receipt of the response to your original letter and should be addressed to: FOI Officer, British Business Bank, Steel City House, West Street, Sheffield, S1 2GQ.
Please remember to quote the reference number above in any future communications.
If you are not content with the outcome of the internal review you may apply directly to the Information Commissioner’s Office for a decision. Generally the Commissioner cannot make a decision unless you have exhausted our own complaints procedure. The Information Commissioner can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow Cheshire SK9 5AF www.ico.gov.uk
Yours sincerely,
British Business Bank FoI Officer
BBB Reference: 20-011-1
3rd June 2020
Dear
RE: Freedom of Information Request
Thank you for your freedom of information request received by the British Business Bank on 5th May 2020, where you requested the following information:
“A total figure and named list of lenders/providers (banks or alternative faculties) who have applied to become BBLS (Bounce Back Loan Scheme) providers/lenders.
A timeline of those who have applied to become official lenders/providers for the BBLS (Bounce Back Loan Scheme), with an “applied date, and application received” by yourselves, and a “Accepted or Rejected” date for the application, which will enable a clear timeline for their application.”
Response:
We are treating your correspondence as a request for information under the Freedom of Information Act 2000 (‘the Act’). Under the Act you have the right to:
- know whether we hold the information you require
- be provided with that information (subject to any exemptions under the Act which may apply).
We can confirm that the British Business Bank holds information within the scope of your request. A list of accredited lenders under the scheme is available here:-
https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan- schemes/bounce-back-loans/current-accredited-lenders-and-partners/
We also hold information on other lenders who have applied to become accredited under the Bounce Back Loan scheme, including the date of their application, the date their application was received and the date that the respective lender was accepted or rejected for accreditation. We
consider that the disclosure of this information would be likely to prejudice commercial interests and that the exemption in section 43(2) of the Act therefore applies. Relevant commercial interests include those of i) The British Business Bank; ii) Bounce Back Loan Scheme accredited lenders and iii) Loan beneficiaries of the Bounce Back Loan Scheme.
We recognise that there is a general public interest in the disclosure of information, as greater transparency makes Government more accountable. Against this there is a public interest in ensuring that the commercial interests referred to above are not damaged or undermined by disclosure of information which is not common knowledge, and which could adversely impact these commercial interests. A disclosure of information under the Act releases that information into the public domain and so is in effect, released to the public at large.
We have concluded that disclosure of this information could damage and adversely affect the commercial interests referred to above. We consider that the public interest in favour of disclosing this information is outweighed by the necessity to protect commercial interests. The British Business Bank’s decision is therefore to withhold this information.
If you have any further queries in relation to your request, please do not hesitate to contact us.
Your right to complain under the Freedom of Information Act
If you are dissatisfied with the handling of your request, you have the right to ask for an internal review. Internal review requests should be submitted within two months of the date of receipt of the response to your original letter and should be addressed to: FOI Officer, British Business Bank, Steel City House, West Street, Sheffield, S1 2GQ.
Please remember to quote the reference number above in any future communications.
If you are not content with the outcome of the internal review you may apply directly to the Information Commissioner’s Office for a decision. Generally the Commissioner cannot make a decision unless you have exhausted our own complaints procedure. The Information Commissioner can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow Cheshire SK9 5AF www.ico.gov.uk
Yours sincerely,
British Business Bank FoI Officer
BBB Reference: 20-014-2
1st July 2020
Dear
RE: Freedom of Information Request
Thank you for your freedom of information request received by the British Business Bank on 5th May 2020, where you requested the following information:
“I am currently undertaking research into the different ways that devolved administrations have managed the response to the crisis.
Given this, I would be grateful if you could provide me with the following information under the FOI Act.
- Copies of all correspondence between Welsh Government and the British Business Bank in relation to any intervention in relation to the COVID-19 crisis i.e. CBILS, CLBILs, Bounceback Loans, Future
- Copies all correspondence between the Development Bank of Wales and the British Business Bank in relation to any intervention in relation to the COVID-19 crisis i.e. CBILS, CLBILs, Bounceback Loans, Futures
- The date of the application by the Development Bank of Wales to be an approved lender to CBILs and any relevant correspondence on this matter
- The reasons as to why there has been a delay in approving the Development Bank of Wales to be an approved lender to CBILs”
Response:
We are treating your correspondence as a request for information under the Freedom of Information Act 2000 (‘the Act’). Under the Act you have the right to:
- know whether we hold the information you require
- be provided with that information (subject to any exemptions under the Act which may apply).
We can confirm that the British Business Bank holds some information within the scope of your request.
The British Business Bank has not corresponded directly with the Welsh Government in relation to any intervention in relation to the COVID-19 crisis i.e. The Coronavirus Business Interruption Loan Scheme, the Coronavirus Large Business Interruption Loan Scheme and the Bounce Back Loan Scheme (collectively referred to as the COVID-19 loan schemes).
Further to our correspondence dated 3rd June 2020, we have now considered the public interest test.
The British Business Bank can neither confirm nor deny whether it holds copies of correspondence between the Development Bank of Wales and the British Business Bank (including any application to become an accredited lender) in relation to the COVID-19 crisis i.e. the COVID-19 loan schemes.
We consider that by confirming or denying that we hold this information would be likely to prejudice commercial interests and that the exemption in section 43(3) of the Act therefore applies. Relevant commercial interests include those of i) The British Business Bank; ii) COVID-19 Loan Scheme accredited lenders; iii) Loan beneficiaries of the COVID-19 loan schemes and iv) The Development Bank of Wales
To help explain further, we consider an organisation’s application to any of the COVID-19 loan schemes to be a confidential process of a commercial nature.
The application process is described in our guidance and requires organisations to be eligible, undergo financial checks and agree to specific terms and conditions. If the organisation is successful, we publish their name on our website as an Accredited Lender.
It follows that if we were to disclose details about an organisation’s application, it is likely to lead to external speculation and comments about the organisation and impact the commercial interests as stated above.
When the COVID-19 loan schemes were launched, the policy regarding the acceptance of entities with either direct government involvement or use of public funds had not been clarified. This position has now been made clear.
COVID-19 loan scheme accreditation will not be granted if there is direct government involvement in the investment decision making processes of that fund.
Secondly, in relation to the financial composition of lending capital available to that fund, accreditation will now only be considered if at least 30% of the fund’s capital is from sources other than those under government control.
If you have any further queries in relation to your request, please do not hesitate to contact us.
Your right to complain under the Freedom of Information Act
If you are dissatisfied with the handling of your request, you have the right to ask for an internal review. Internal review requests should be submitted within two months of the date of receipt of the response to your original letter and should be addressed to: FOI Officer, British Business Bank, Steel City House, West Street, Sheffield, S1 2GQ.
Please remember to quote the reference number above in any future communications.
If you are not content with the outcome of the internal review you may apply directly to the Information Commissioner’s Office for a decision. Generally the Commissioner cannot make a decision unless you have exhausted our own complaints procedure. The Information Commissioner can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow Cheshire SK9 5AF www.ico.gov.uk
Yours sincerely,
British Business Bank FoI Officer
3
Steel City House West Street Sheffield S1
2GQ
british-business-bank.co.uk
@britishbbank
BBB Reference: 20-016-1
11th June 2020 Dear
RE: Freedom of Information Request
Thank you for your freedom of information request received on 13th May 2020 requesting the following information:
“I am doing research for the London School of Economics on policy responses during Covid-19 and during the 2009 Great Recession.
I am looking for a regional and time-series (weekly?) breakdown of EFG loans since the start of the program until today.
I am also looking for a regional and time-series (weekly?) breakdown of loans from the Bounce Back Loan Scheme, CBILs and Coronavirus Large Business Interruption Scheme.
Would it be possible to also obtain information on the names of companies issuing loans through these schemes? I need this additional information so I can incorporate in the analysis the information on company characteristics from Companies House.”
Response:
We are treating your correspondence as a request for information under the Freedom of Information Act 2000 (‘the Act’). Under the Act you have the right to:
- know whether we hold the information you require
- be provided with that information (subject to any exemptions under the Act which may apply).
The British Business Bank (BBB) holds information within the scope of your request.
Statistics on the Bounce Back Loan Scheme, Corona Virus Business Interruption Loan Scheme and Coronavirus Large Business Interruption Scheme are available here:-
https://www.gov.uk/government/collections/hm-treasury-coronavirus-covid-19-business-loan- scheme-statistics
Quarterly statistics on the Enterprise Finance Guarantee (EFG) scheme are available here:-
https://www.british-business-bank.co.uk/ourpartners/supporting-business-loans-enterprise-finance- guarantee/latest-enterprise-finance-guarantee-quarterly-statistics/
Please also find attached the latest quarterly EFG statistics in Excel format (details of the EFG accredited lenders are included in the statistics).
Details of the accredited scheme lenders for the Covid-19 loan schemes are available here:-
https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan- schemes/bounce-back-loans/current-accredited-lenders-and-partners/
If you have any further queries in relation to your request, please do not hesitate to contact us.
Your right to complain under the Freedom of Information Act
If you are dissatisfied with the handling of your request, you have the right to ask for an internal review. Internal review requests should be submitted within two months of the date of receipt of the response to your original letter and should be addressed to: FOI Officer, British Business Bank, Steel City House, West Street, Sheffield, S1 2GQ.
Please remember to quote the reference number above in any future communications.
If you are not content with the outcome of the internal review you may apply directly to the Information Commissioner’s Office for a decision. Generally the Commissioner cannot make a decision unless you have exhausted our own complaints procedure. The Information Commissioner can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow Cheshire SK9 5AF www.ico.gov.uk
Yours sincerely,
British Business Bank FoI Officer
Steel City House West Street Sheffield
S1 2GQ
Tel: 0114 206 2131
british-business-bank.co.uk @britishbbank
BBB Reference: 20-017-1
12th June 2020
Dear
RE: Freedom of Information Request
Thank you for your freedom of information request received by the British Business Bank on 14th May 2020, where you requested the following information:
“Can you provide details of when Metro Bank applied for BBIL status?”
Response:
We are treating your correspondence as a request for information under the Freedom of Information Act 2000 (‘the Act’). Under the Act you have the right to:
- know whether we hold the information you require
- be provided with that information (subject to any exemptions under the Act which may apply).
We can confirm that the British Business Bank holds information within the scope of your request.
We are withholding the requested information as we consider that the disclosure of this information would be likely to prejudice commercial interests and that the exemption in section 43(2) of the Act therefore applies. Relevant commercial interests include those of i) The British Business Bank; ii) Bounce Back Loan Scheme accredited lenders and iii) Loan beneficiaries of the Bounce Back Loan Scheme.
We recognise that there is a general public interest in the disclosure of information, as greater transparency makes Government more accountable. Against this there is a public interest in ensuring that the commercial interests referred to above are not damaged or undermined by disclosure of information which is not common knowledge, and which could adversely impact these commercial interests. A disclosure of information under the Act releases that information into the public domain and so is in effect, released to the public at large.
We have concluded that disclosure of this information could damage and adversely affect the commercial interests referred to above. We consider that the public interest in favour of disclosing this information is outweighed by the necessity to protect commercial interests. The British Business Bank’s decision is therefore to withhold this information.
Details regarding Metro Bank’s accreditation status are available at the following links:-
https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan- schemes/bounce-back-loans/current-accredited-lenders-and-partners/
https://ibsintelligence.com/ibs-journal/ibs-news/metro-bank-gets-lender-accreditation-under- bounce-back-loan-scheme/
If you have any further queries in relation to your request, please do not hesitate to contact us.
Your right to complain under the Freedom of Information Act
If you are dissatisfied with the handling of your request, you have the right to ask for an internal review. Internal review requests should be submitted within two months of the date of receipt of the response to your original letter and should be addressed to: FOI Officer, British Business Bank, Steel City House, West Street, Sheffield, S1 2GQ.
Please remember to quote the reference number above in any future communications.
If you are not content with the outcome of the internal review you may apply directly to the Information Commissioner’s Office for a decision. Generally the Commissioner cannot make a decision unless you have exhausted our own complaints procedure. The Information Commissioner can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow Cheshire SK9 5AF www.ico.gov.uk
Yours sincerely,
British Business Bank FoI Officer
Steel City House West Street Sheffield
S1 2GQ
Tel: 0114 206 2131
british-business-bank.co.uk @britishbbank
BBB Reference: 20-019-1
16th June 2020
Dear
RE: Freedom of Information Request
Thank you for your freedom of information request received by the British Business Bank on 18th May 2020, where you requested the following information:
“I would like a FOI on metro bank application process To cover the dates of its application to BBL – any issues and date of approval”
Response:
We are treating your correspondence as a request for information under the Freedom of Information Act 2000 (‘the Act’). Under the Act you have the right to:
- know whether we hold the information you require
- be provided with that information (subject to any exemptions under the Act which may apply).
We can confirm that the British Business Bank holds information within the scope of your request.
We are withholding the requested information as we consider that the disclosure of this information would be likely to prejudice commercial interests and that the exemption in section 43(2) of the Act therefore applies. Relevant commercial interests include those of i) The British Business Bank; ii) Bounce Back Loan Scheme accredited lenders and iii) Loan beneficiaries of the Bounce Back Loan Scheme.
We recognise that there is a general public interest in the disclosure of information, as greater transparency makes Government more accountable. Against this there is a public interest in ensuring that the commercial interests referred to above are not damaged or undermined by disclosure of information which is not common knowledge, and which could adversely impact these commercial interests. A disclosure of information under the Act releases that information into the public domain and so is in effect, released to the public at large.
We have concluded that disclosure of this information could damage and adversely affect the commercial interests referred to above. We consider that the public interest in favour of disclosing this information is outweighed by the necessity to protect commercial interests. The British Business Bank’s decision is therefore to withhold this information.
Details regarding Metro Bank’s accreditation status are available at the following links:-
https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan- schemes/bounce-back-loans/current-accredited-lenders-and-partners/
https://ibsintelligence.com/ibs-journal/ibs-news/metro-bank-gets-lender-accreditation-under- bounce-back-loan-scheme/
If you have any further queries in relation to your request, please do not hesitate to contact us.
Your right to complain under the Freedom of Information Act
If you are dissatisfied with the handling of your request, you have the right to ask for an internal review. Internal review requests should be submitted within two months of the date of receipt of the response to your original letter and should be addressed to: FOI Officer, British Business Bank, Steel City House, West Street, Sheffield, S1 2GQ.
Please remember to quote the reference number above in any future communications.
If you are not content with the outcome of the internal review you may apply directly to the Information Commissioner’s Office for a decision. Generally the Commissioner cannot make a decision unless you have exhausted our own complaints procedure. The Information Commissioner can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow Cheshire SK9 5AF www.ico.gov.uk
Yours sincerely,
British Business Bank FoI Officer
Steel City House West Street Sheffield
S1 2GQ
Tel: 0114 206 2131
british-business-bank.co.uk @britishbbank
BBB Reference: 20-021-1
17th June 2020
Dear
RE: Freedom of Information Request
Thank you for your freedom of information request received by the British Business Bank on 19th May 2020, where you requested the following information:
“We have a business account with Metro Bank, could you please let us know if they have submitted an application to be accredited for the Bounce Back Loan Scheme (BBLS) and also how long it takes for a bank to be accredited/ declined application.”
Response:
We are treating your correspondence as a request for information under the Freedom of Information Act 2000 (‘the Act’). Under the Act you have the right to:
- know whether we hold the information you require
- be provided with that information (subject to any exemptions under the Act which may apply).
We can confirm that the British Business Bank holds information within the scope of your request.
We are withholding the requested information as we consider that the disclosure of this information would be likely to prejudice commercial interests and that the exemption in section 43(2) of the Act therefore applies. Relevant commercial interests include those of i) The British Business Bank; ii) Bounce Back Loan Scheme accredited lenders and iii) Loan beneficiaries of the Bounce Back Loan Scheme.
We recognise that there is a general public interest in the disclosure of information, as greater transparency makes Government more accountable. Against this there is a public interest in ensuring that the commercial interests referred to above are not damaged or undermined by disclosure of information which is not common knowledge, and which could adversely impact these
commercial interests. A disclosure of information under the Act releases that information into the public domain and so is in effect, released to the public at large.
We have concluded that disclosure of this information could damage and adversely affect the commercial interests referred to above. We consider that the public interest in favour of disclosing this information is outweighed by the necessity to protect commercial interests. The British Business Bank’s decision is therefore to withhold this information.
Details regarding Metro Bank’s accreditation status are available at the following links:-
https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan- schemes/bounce-back-loans/current-accredited-lenders-and-partners/
https://ibsintelligence.com/ibs-journal/ibs-news/metro-bank-gets-lender-accreditation-under- bounce-back-loan-scheme/
If you have any further queries in relation to your request, please do not hesitate to contact us.
Your right to complain under the Freedom of Information Act
If you are dissatisfied with the handling of your request, you have the right to ask for an internal review. Internal review requests should be submitted within two months of the date of receipt of the response to your original letter and should be addressed to: FOI Officer, British Business Bank, Steel City House, West Street, Sheffield, S1 2GQ.
Please remember to quote the reference number above in any future communications.
If you are not content with the outcome of the internal review you may apply directly to the Information Commissioner’s Office for a decision. Generally the Commissioner cannot make a decision unless you have exhausted our own complaints procedure. The Information Commissioner can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow Cheshire SK9 5AF www.ico.gov.uk
Yours sincerely,
British Business Bank FoI Officer
Steel City House West Street Sheffield
S1 2GQ
Tel: 0114 206 2131
british-business-bank.co.uk @britishbbank
BBB Reference: 20-023-1
18th June 2020
Dear
RE: Freedom of Information Request
Thank you for your freedom of information request received by the British Business Bank on 20th May 2020, where you requested the following information:
“Please can you provide a value amount in GBP £ of the limits placed on each accredited lender on the Business Bounce Back Loan Scheme, and to date as of 20th May 2020, the extent that those accredited lenders have utilized that limit. Also, please could you summarise any further requests outstanding as at 20th May 2020 to increase the limit for any accredited lender and the value requested?”
Response:
We are treating your correspondence as a request for information under the Freedom of Information Act 2000 (‘the Act’). Under the Act you have the right to:
- know whether we hold the information you require
- be provided with that information (subject to any exemptions under the Act which may apply).
We can confirm that the British Business Bank holds information within the scope of your request.
We consider that the disclosure of this information would be likely to prejudice commercial interests and that the exemption in section 43(2) of the Act therefore applies. Relevant commercial interests include those of i) The British Business Bank; ii) Bounce Back Loan Scheme accredited lenders and iii) Loan beneficiaries of the Bounce Back Loan scheme.
We recognise that there is a general public interest in the disclosure of information, as greater transparency makes Government more accountable. Against this there is a public interest in ensuring that the commercial interests referred to above are not damaged or undermined by disclosure of information which is not common knowledge, and which could adversely impact these
commercial interests. A disclosure of information under the Act releases that information into the public domain and so is in effect, released to the public at large.
We have concluded that disclosure of this information could damage and adversely affect the commercial interests referred to above. We consider that the public interest in favour of disclosing this information is outweighed by the necessity to protect commercial interests. The British Business Bank’s decision is therefore to withhold this information.
If you have any further queries in relation to your request, please do not hesitate to contact us.
Your right to complain under the Freedom of Information Act
If you are dissatisfied with the handling of your request, you have the right to ask for an internal review. Internal review requests should be submitted within two months of the date of receipt of the response to your original letter and should be addressed to: FOI Officer, British Business Bank, Steel City House, West Street, Sheffield, S1 2GQ.
Please remember to quote the reference number above in any future communications.
If you are not content with the outcome of the internal review you may apply directly to the Information Commissioner’s Office for a decision. Generally the Commissioner cannot make a decision unless you have exhausted our own complaints procedure. The Information Commissioner can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow Cheshire SK9 5AF www.ico.gov.uk
Yours sincerely,
British Business Bank FoI Officer
Steel City House West Street Sheffield
S1 2GQ
Tel: 0114 206 2131
british-business-bank.co.uk @britishbbank
BBB Reference: 20-023-1
18th June 2020
Dear
RE: Freedom of Information Request
Thank you for your freedom of information request received by the British Business Bank on 21st May 2020, where you requested the following information:
“Can I request freedom of information of request for Tide Bank, please outline the following.
- What is Tide’s current approved lending limits for the Bounce Bank Loan scheme
- How much of this loan limit has Tide utilised
- When where requests if any made to increase the current limit
- How Tide are funding the delivery of these ”
Response:
We are treating your correspondence as a request for information under the Freedom of Information Act 2000 (‘the Act’). Under the Act you have the right to:
- know whether we hold the information you require
- be provided with that information (subject to any exemptions under the Act which may apply).
We can confirm that the British Business Bank holds information within the scope of your request.
We are withholding the requested information as we consider that the disclosure of this information would be likely to prejudice commercial interests and that the exemption in section 43(2) of the Act therefore applies. Relevant commercial interests include those of i) The British Business Bank; ii) Bounce Back Loan Scheme accredited lenders and iii) Loan beneficiaries of the Bounce Back Loan Scheme.
We recognise that there is a general public interest in the disclosure of information, as greater transparency makes Government more accountable. Against this there is a public interest in
ensuring that the commercial interests referred to above are not damaged or undermined by disclosure of information which is not common knowledge, and which could adversely impact these commercial interests. A disclosure of information under the Act releases that information into the public domain and so is in effect, released to the public at large.
We have concluded that disclosure of this information could damage and adversely affect the commercial interests referred to above. We consider that the public interest in favour of disclosing this information is outweighed by the necessity to protect commercial interests. The British Business Bank’s decision is therefore to withhold this information.
If you have any further queries in relation to your request, please do not hesitate to contact us.
Your right to complain under the Freedom of Information Act
If you are dissatisfied with the handling of your request, you have the right to ask for an internal review. Internal review requests should be submitted within two months of the date of receipt of the response to your original letter and should be addressed to: FOI Officer, British Business Bank, Steel City House, West Street, Sheffield, S1 2GQ.
Please remember to quote the reference number above in any future communications.
If you are not content with the outcome of the internal review you may apply directly to the Information Commissioner’s Office for a decision. Generally the Commissioner cannot make a decision unless you have exhausted our own complaints procedure. The Information Commissioner can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow Cheshire SK9 5AF www.ico.gov.uk
Yours sincerely,
British Business Bank FoI Officer
Steel City House West Street Sheffield
S1 2GQ
Tel: 0114 206 2131
british-business-bank.co.uk @britishbbank
BBB Reference: 20-027-1
24th June 2020
Dear
RE: Freedom of Information Request
Thank you for your freedom of information request received by the British Business Bank on 27th May 2020, where you requested the following information:
“I would like to make a request under the Freedom of Information Act of 2000 for a list of all companies who have been approved for a loan under the Bounce Back Loan Scheme.
My preferred format would be in a CSV file.
In order of importance, I would like the document to contain the following:
- Name of company that has been approved for a bounce back loan
- Name of bank that granted the loan
- Sum in £ of loan
- Company number
- Company’s geographic location
If any of the points 2-4 would mean you would deny my request, feel free to ignore those and focus merely on point 1.”
Response:
We are treating your correspondence as a request for information under the Freedom of Information Act 2000 (‘the Act’). Under the Act you have the right to:
- know whether we hold the information you require
- be provided with that information (subject to any exemptions under the Act which may apply).
We can confirm that the British Business Bank holds information within the scope of your request.
We are withholding the requested information as we consider that the disclosure of this information would be likely to prejudice commercial interests and that the exemption in section 43(2) of the Act therefore applies. Relevant commercial interests include those of i) The British Business Bank; ii) Bounce Back Loan Scheme accredited lenders and iii) Loan beneficiaries of the Bounce Back Loan Scheme.
We recognise that there is a general public interest in the disclosure of information, as greater transparency makes Government more accountable. Against this there is a public interest in ensuring that the commercial interests referred to above are not damaged or undermined by disclosure of information which is not common knowledge, and which could adversely impact these commercial interests. A disclosure of information under the Act releases that information into the public domain and so is in effect, released to the public at large.
We have concluded that disclosure of this information could damage and adversely affect the commercial interests referred to above. We consider that the public interest in favour of disclosing this information is outweighed by the necessity to protect commercial interests. The British Business Bank’s decision is therefore to withhold this information.
If you have any further queries in relation to your request, please do not hesitate to contact us.
Your right to complain under the Freedom of Information Act
If you are dissatisfied with the handling of your request, you have the right to ask for an internal review. Internal review requests should be submitted within two months of the date of receipt of the response to your original letter and should be addressed to: FOI Officer, British Business Bank, Steel City House, West Street, Sheffield, S1 2GQ.
Please remember to quote the reference number above in any future communications.
If you are not content with the outcome of the internal review you may apply directly to the Information Commissioner’s Office for a decision. Generally the Commissioner cannot make a decision unless you have exhausted our own complaints procedure. The Information Commissioner can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow Cheshire SK9 5AF www.ico.gov.uk
Yours sincerely,
British Business Bank FoI Officer
Reference: FOI 20-027-2
07/10/2020
Dear
RE: Freedom of Information Request
I write in reference to your request of August 24th for an internal review to the response we provided on June 24 h to exempt the information you requested on May 27th:
“I would like to make a request under the Freedom of Information Act of 2000 for a list of all companies who have been approved for a loan under the Bounce Back Loan Scheme.
My preferred format would be in a CSV file.
In order of importance, I would like the document to contain the following:
- Name of company that has been approved for a bounce back loan
- Name of bank that granted the loan
- Sum in £ of loan
- Company number
- Company’s geographic location
If any of the points 2-4 would mean you would deny my request, feel free to ignore those and focus merely on point 1.”
Response:
Under the Freedom of Information Act 2000 (‘the Act’), we are required to confirm if the information you requested is held and to provide the information or to apply an exemption and explain why the exemption applies along with reference to your rights to appeal.
In response to your request of August 18th, I have carried out a review to the handling of your request and concluded the response:
- was answered in time
- confirmed and identified the exemption applied
- confirmed your rights to appeal
I have considered if the application of Section 43(2) was justified and concluded it was, but recognise the response did not provide the details to fully explain the prejudice to commercial interests or the public interest test; consequently, I have included these in this response.
Prejudice to Commercial Interests
Section 43(2) provides information is exempt if its disclosure would, or would be likely to, prejudice the commercial interests of a person; a person can be an individual or any legal entity.
In this case, we believe the disclosure of the names of the firms borrowing under the Bounce Back Loan Scheme (BBLS) (hereafter the Recipients) and the details of the loans and the individual Lenders would be likely to prejudice the commercial interests of:
The Recipients: The purpose of the BBLS is to support businesses facing financial difficulties because of limited cashflow or a loss of revenue due to the Coronavirus pandemic. Publishing a list of the Recipients would be likely to result in speculation about the Recipients’ financial position and the perception of weak cash reserves or poor business acumen. This speculation may be unfair because businesses may have applied for a loan for contingency purposes and not drawn it, which could affect customer confidence and a business’s ability to trade, for example customers may purposefully avoid trading with businesses that have received a loan, especially if a customer is required to pay substantial sums in advance of services or goods. The disclosure may also affect the trust Recipients have with Lenders and the Loan Schemes and, amid concerns their financial circumstances are subject to public disclosure and speculation, may seek alternative sources of finance, which may be more expensive and result in further financial pressures.
The Lenders: Rely on maintaining trust with their Customers and the decision to disclose the names of the Recipients (their customers) would have an adverse impact on this relationship given the expectation of customer confidentiality. Also, disclosing the names of the Lender and the amounts loaned may reveal information about the Lender and their customer base, which may be used by their competitors.
The British Business Bank (BBB): BBB’s objectives are to work with financial organisations, not compete with them, which relies on good working relations with Lenders as key delivery partners to the Loan Schemes. These relationships are covered by agreement, which confirm the BBB’s obligations under the Freedom of Information Act to release information where lawful to do so, but in this case we believe the information is exempt and disclosure would have an adverse impact on the relationship between BBB and Lenders. There is a risk Lenders and prospective Recipients and other Borrowers, for example Start Up Loans customers, may choose not to work with BBB in the future because of concerns that private and personal information is unfairly disclosed to the public.
Likelihood of prejudice
Relying on Section 43(2) requires us to consider the likelihood of the prejudice and whether it ‘would’ or ‘would be likely to occur’. We believe the prejudice ‘would be likely to occur’ on the basis that prejudice may not affect all of the persons, in particular all of the Recipients, but it is likely to affect a proportion of them given the continued pressures from the Coronavirus pandemic.
Public Interest Test
The purpose of the public interest test is to consider the circumstances of the request and weigh the public interest in maintaining the exemption against the public interest in disclosure. The public interest means the public good, not what is of interest to the public, and not the private interests of the requester.
The public interest factors in favour of disclosing the information:
- There is always a general public interest in transparency and how Government and public authorities operate, make decisions and spend money, which in essence is the purpose of the Freedom of Information Act to enable the public to ask questions, be informed and engage with decisions and affairs that affect the public and society as a
- There is a high public interest in the Loan Schemes because of the number of loans awarded, in excess of 1.2 million loans amounting to over £38 billion, based on HM Treasury statistics of September 20th 2020 (https://www.gov.uk/government/collections/hm-treasury-coronavirus- covid-19-business-loan-scheme-statistics). Although it is the Lenders money being loaned, the Government has agreed to pay the first 12 months of interest payments and cover 100% of the loans in the event the Recipient defaults. In consequence, the loans involve public money and there is a public interest in knowing who has received a
- There is a public interest in protecting public money and preventing and combating financial crime including fraud. The speed of the introduction of the BBLS, the number of loans and substantial amounts of money have given rise to concerns about the risk of fraudulent claims and default payments and the release of the names of the Recipients would help law enforcement agencies and other third parties to identify and investigate possible cases of
The public interest factors in maintaining the exemption:
- There is a public interest is preventing any prejudice-based detriment. We have concerns that the release of the names of the Recipients would be likely to prejudice the commercial interests of the Persons mentioned above. Section 43 considers the commercial interests of specific persons and circumstances, but it is impossible to determine how many persons could be prejudiced, so we are having to take a wider perspective because of the sheer number of Recipients and Lenders involved, over 2 million and 25 respectively. In practice, the detriment to just one Person would warrant the exemption.
- There is public interest in supporting businesses during the Coronavirus pandemic and enabling them to continue to trade in difficult circumstances. The disclosure of the Recipient names is likely to lead to an increase in speculation about their business affairs, which would impact the
Recipients and potentially make trading more difficult. The disclosure may also put businesses off from applying for a Loan and contribute to businesses ceasing to trade.
- There is a public interest in tackling fraud and financial crime. The release of the information is likely to be well publicised and an interest to the public. At a local level, members of the public are likely to look for specific businesses and with local knowledge report suspected cases of fraud. At a national level, the press and other professional subject matter experts will form opinions on certain Recipients, which although may help identify some possible cases of fraud, is likely to increase pressure on the Recipients and the Lenders, at a continued time of economic uncertainty, and potentially disrupt or impact on the agencies involved in investigating fraudulent
- Finally, the financial services industry is an important part of the UK economy and there is a strong public interest in ensuring the financial sector can operate effectively and to maintain the reasonable expectation of confidentiality with customers. Lenders have established processes to monitor, report and investigate any concerns they have about customers without the need for information to be disclosed to the
On review of the factors above, we believe the public interest test favours the exemption. This decision is based on the view that information about the BBLS is being published by the government and BBB, for instance HM Treasury has published figures for the number of loan applications and their total value; BBB has published regional figures for where the Loans have been awarded, and, more recently its Reservation Notice related to the BBLS; the Department for Business, Energy and Industrial Strategy (BEIS) has published its Annual Report and Accounts, which includes loss estimates for all of the Covid-19 Loan Schemes, and that the disclosure of the detailed information you have requested is likely to prejudice the commercial interests of the Recipients and the Lenders and potentially have an adverse impact on the UK’s economy.
For reference:
https://www.british-business-bank.co.uk/coronavirus-loan-schemes-benefiting-businesses-in-all- corners-of-uk-reveals-new-analysis-from-british-business-bank/
https://www.british-business-bank.co.uk/reservation-notice-for-the-future-fund/ https://www.gov.uk/government/publications/beis-annual-report-and-accounts-2019-to-2020
In addition to Section 43(2), I also consider the following exemptions are applicable: Section 40
(personal data) and Section 31 (law enforcement).
Section 40 Personal Data
Section 40(2) provides personal data is exempt if its disclosure would contravene one of the data protection principles in Article 5 of the General Data Protection Regulation. In this case, a proportion of the Bounce Back Loan Recipients are sole traders and limited partnerships and the release of the business names or trading names would identify individuals or make them more identifiable. There is a
strong likelihood that the release of the Loan Recipients would result in increased speculation into their financial and personal circumstances, for instance (i) a belief that their business is ‘in difficulties’ and therefore unable to fulfil future obligations, (ii) a belief (local or national) that the Scheme has been abused, and/or that the loan was undeserved or fraudulent, or (iii) a belief that the loan was misspent, especially if the business later defaults on the loan.
Recipients have in the ordinary course of financing arrangements (in the absence of the Government Loan Schemes), a reasonable expectation that their financial circumstances and lender relationship arrangements are carried out in confidence and that their associated personal data would be protected, used for very limited purposes and not be disclosed to the general public.
Section 31 Prejudice to Law Enforcement
Section 31 allows information to be exempt if its disclosure would or would be likely to prejudice the prevention or detection of crime and to protect society from crime and its impact. In this case, the disclosure of the Recipient names is likely to provide criminals with sufficient information that they can use to target or impersonate Recipients, Non-Recipients, Lenders and BBB with false communications or phishing attacks in the attempt to obtain money or further information that may result in fraudulent activity, for example false claims, money laundering, etc.
Section 31 is subject to a public interest test and the key points are identified in the above public interest apply, there is also the threat of cybercrime. The National Cyber Security Centre reported the Coronavirus pandemic has given rise to cybercrime and the attempt to exploit people’s concerns and obtain funds or information: https://www.ncsc.gov.uk/news/cyber-experts-step-criminals-exploit- coronavirus. In consequence, we believe the release of the Recipients names would provide cybercriminals sufficient information to target businesses and Lenders to try and fraudulently obtain loans or payments or information and, as the Loan Schemes have extended to November 30th, consider it is in the public interest to maintain the exemption.
I understand this may not be the response you wanted, but I hope it has explained why we have taken the decision to exempt the information.
Your right to complain under the Freedom of Information Act
If you are not content with the outcome of this internal review you may apply directly to the Information Commissioner’s Office for a decision. The Information Commissioner can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow, Cheshire SK9 5AF (www.ico.gov.uk).
Yours sincerely,
Senior Information Risk and Assurance Manager, British Business Bank foirequests@british-business-bank.co.uk
BBB Reference: 20-028-1
24th August 2020
Dear
RE: Freedom of Information Request
Thank you for your freedom of information request received by the British Business Bank on 27th May 2020, where you requested the following information:
“Under the Freedom of Information Act, 2000, I would like to request a copy of the standardised contract that all accredited scheme lenders have signed with the British Business Bank to allow them to provide loans under the Bounce Back Loan Scheme.”
Response:
We are treating your correspondence as a request for information under the Freedom of Information Act 2000 (‘the Act’). Under the Act you have the right to:
- know whether we hold the information you require
- be provided with that information (subject to any exemptions under the Act which may apply).
We can confirm that the British Business Bank holds information within the scope of your request.
Further to our correspondence dated 24th June 2020, we have considered the public interest test in relation to your information request.
We are withholding this information as we consider that the disclosure of this information would be likely to prejudice commercial interests and that the exemption in section 43(2) of the Act therefore applies. Relevant commercial interests include those of i) The British Business Bank; ii) Bounce Back Loan Scheme accredited lenders and iii) Loan beneficiaries of the Bounce Back Loan Scheme.
We recognise that there is a general public interest in the disclosure of information, as greater transparency makes Government more accountable. Against this there is a public interest in
ensuring that the commercial interests referred to above are not damaged or undermined by disclosure of information which is not common knowledge, and which could adversely impact these commercial interests. A disclosure of information under the Act releases that information into the public domain and so is in effect, released to the public at large.
We have concluded that disclosure of this information could damage and adversely affect the commercial interests referred to above. We consider that the public interest in favour of disclosing this information is outweighed by the necessity to protect commercial interests. The British Business Bank’s decision is therefore to withhold this information.
If you have any further queries in relation to your request, please do not hesitate to contact us.
Your right to complain under the Freedom of Information Act
If you are dissatisfied with the handling of your request, you have the right to ask for an internal review. Internal review requests should be submitted within two months of the date of receipt of the response to your original letter and should be addressed to: FOI Officer, British Business Bank, Steel City House, West Street, Sheffield, S1 2GQ.
Please remember to quote the reference number above in any future communications.
If you are not content with the outcome of the internal review you may apply directly to the Information Commissioner’s Office for a decision. Generally the Commissioner cannot make a decision unless you have exhausted our own complaints procedure. The Information Commissioner can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow Cheshire SK9 5AF www.ico.gov.uk
Yours sincerely,
British Business Bank FoI Officer
BBB Reference: 20-029-1
3rd July 2020
Dear
RE: Freedom of Information Request
Thank you for your freedom of information request received by the British Business Bank on 5th June 2020, where you requested the following information:
“I’m requesting information under the Freedom of Information Act 2000 relating to the Coronavirus Business Interruption Loan Scheme (CBILS), Coronavirus Large Business Interruption Loan Scheme (CLBILS), Bounce Back Loan Scheme (BBLS) and the Future Fund.
For each scheme listed above, I would be grateful if you can provide the following details of each individual business that has had their facility approved:
- Company name
- Companies House – Company Registration Number (CRN)
- Date the facility was approved”
Response:
We are treating your correspondence as a request for information under the Freedom of Information Act 2000 (‘the Act’). Under the Act you have the right to:
- know whether we hold the information you require
- be provided with that information (subject to any exemptions under the Act which may apply).
We can confirm that the British Business Bank holds information within the scope of your request.
We are withholding the requested information as we consider that the disclosure of this information would be likely to prejudice commercial interests and that the exemption in section 43(2) of the Act therefore applies. Relevant commercial interests include those of i) The British Business Bank; ii) Covid-19 Loan Scheme accredited lenders and iii) Loan beneficiaries of the Covid-19 Loan Schemes.
We recognise that there is a general public interest in the disclosure of information, as greater transparency makes Government more accountable. Against this there is a public interest in ensuring that the commercial interests referred to above are not damaged or undermined by disclosure of information which is not common knowledge, and which could adversely impact these commercial interests. A disclosure of information under the Act releases that information into the public domain and so is in effect, released to the public at large.
We have concluded that disclosure of this information could damage and adversely affect the commercial interests referred to above. We consider that the public interest in favour of disclosing this information is outweighed by the necessity to protect commercial interests. The British Business Bank’s decision is therefore to withhold this information.
If you have any further queries in relation to your request, please do not hesitate to contact us.
Your right to complain under the Freedom of Information Act
If you are dissatisfied with the handling of your request, you have the right to ask for an internal review. Internal review requests should be submitted within two months of the date of receipt of the response to your original letter and should be addressed to: FOI Officer, British Business Bank, Steel City House, West Street, Sheffield, S1 2GQ.
Please remember to quote the reference number above in any future communications.
If you are not content with the outcome of the internal review you may apply directly to the Information Commissioner’s Office for a decision. Generally the Commissioner cannot make a decision unless you have exhausted our own complaints procedure. The Information Commissioner can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow Cheshire SK9 5AF www.ico.gov.uk
Yours sincerely,
British Business Bank FoI Officer
BBB Reference: 20-031-1
3rd July 2020
Dear
RE: Freedom of Information Request
Thank you for your freedom of information request received by the British Business Bank on 6th June 2020, where you requested the following information:
“I would like to request to date how many BBl loans Tide banking have issued. I am a member with them and they are making contradictory statements to all their members.”
Response:
We are treating your correspondence as a request for information under the Freedom of Information Act 2000 (‘the Act’). Under the Act you have the right to:
- know whether we hold the information you require
- be provided with that information (subject to any exemptions under the Act which may apply).
We can confirm that the British Business Bank holds information within the scope of your request.
We are withholding the requested information as we consider that the disclosure of this information would be likely to prejudice commercial interests and that the exemption in section 43(2) of the Act therefore applies. Relevant commercial interests include those of i) The British Business Bank; ii) Bounce Back Loan Scheme accredited lenders and iii) Loan beneficiaries of the Bounce Back Loan Scheme.
We recognise that there is a general public interest in the disclosure of information, as greater transparency makes Government more accountable. Against this there is a public interest in ensuring that the commercial interests referred to above are not damaged or undermined by disclosure of information which is not common knowledge, and which could adversely impact these commercial interests. A disclosure of information under the Act releases that information into the public domain and so is in effect, released to the public at large.
We have concluded that disclosure of this information could damage and adversely affect the commercial interests referred to above. We consider that the public interest in favour of disclosing this information is outweighed by the necessity to protect commercial interests. The British Business Bank’s decision is therefore to withhold this information.
If you have any further queries in relation to your request, please do not hesitate to contact us.
Your right to complain under the Freedom of Information Act
If you are dissatisfied with the handling of your request, you have the right to ask for an internal review. Internal review requests should be submitted within two months of the date of receipt of the response to your original letter and should be addressed to: FOI Officer, British Business Bank, Steel City House, West Street, Sheffield, S1 2GQ.
Please remember to quote the reference number above in any future communications.
If you are not content with the outcome of the internal review you may apply directly to the Information Commissioner’s Office for a decision. Generally the Commissioner cannot make a decision unless you have exhausted our own complaints procedure. The Information Commissioner can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow Cheshire SK9 5AF www.ico.gov.uk
Yours sincerely,
British Business Bank FoI Officer
BBB Reference: 20-032-1
1st July 2020
Dear
RE: Freedom of Information Request
Thank you for your freedom of information request received by the British Business Bank on 3rd June 2020, where you requested the following information:
“I’d like to request information relating to an application for approval under the “Bounceback Loan Scheme (BBLS)” between the British Business Bank and Ulster Community Investment Trust Ltd (UCIT) (and/or Ulster Community Investment Plc).
My request specifically relates to all documentation relating to confirmation and verification that UCIT (and/or Ulster Community Investment Plc) will comply with Paragraph 4.2 of the prospective accredited lender guidance document (minimum of £10,000,000 of new lending during the BBLS scheme period.”
Response:
We are treating your correspondence as a request for information under the Freedom of Information Act 2000 (‘the Act’). Under the Act you have the right to:
- know whether we hold the information you require
- be provided with that information (subject to any exemptions under the Act which may apply).
Under section 1(1)(a) of the Freedom of Information Act 2000 (FOIA), public authorities are required to confirm if the information requested is held or not, but there are exceptions to this and we have decided to apply section 43(3) of the FOIA to neither confirm nor deny information is held. Section 43(3) provides that a public authority does not have to confirm or deny information is held if to do so would, or be would likely to, prejudice a person’s commercial interests. A person can be an organisation, individual or even a public authority.
To help explain further, we consider an organisation’s application to become an Accredited Lender to be a confidential process of a commercial nature. The application process is described in our guidance and requires organisations to be eligible, undergo financial checks and agree to specific terms and conditions. If the organisation is successful, we publish their name on our website as an Accredited Lender. For information about the Scheme go to:-
https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan- schemes/bounce-back-loans/.
It follows that if we were to confirm an organisation had applied to be an Accredited Lender and they didn’t appear as such on our website, it is likely to lead to external speculation and comments about the organisation, which may have an adverse impact on their reputation, commercial interests and standing in the financial marketplace. Prospective Lenders can withdraw from the application process at any time even if they have been successful, so we only publish the names of the organisations that become Accredited Lenders.
The use of the Section 43(3) exemption is subject to a public interest test. The factors in favour of confirming if information is held or not:-
- We are a public authority working to facilitate the UK Government’s Loan Schemes in response to the Covid-19 pandemic and there is a public interest to how public money is used;
The factors in favour of applying section 43(3) to neither confirm nor deny information is held:-
- Financial institutions engage with the British Business Bank with a reasonable expectation of confidence that information and discussions during the process will not be released to the general public;
- To confirm or deny a specific organisation has applied, but not been published as an Accredited Lender is likely to result in external speculation and comment with the potential consequence of damaging an organisation’s reputation, commercial interests and their place in the financial marketplace;
- The financial services industry is an important component of the UK economy. There is a public interest in private sector companies being able to operate effectively in that market. It would work against the public interest to disturb the market by unfairly prejudicing the commercial interests of any of the companies operating in
On review of the factors above, we believe the public interest test favours the exemption to neither confirm nor deny the information you requested is held. This decision is based on the premise that a disclosure of this sort would be likely to prejudice the commercial interests of any organisation that has applied to be, but is not listed as, an Accredited Lender.
Please note the decision to neither confirm nor deny information held is based on a hypothetical argument. We have not checked our records to determine whether the Ulster Community Investment Trust Limited has ever applied to be an Accredited Lender because by applying Section 43(3), we do not need to.
I realise this may not be the response you wanted or expected, so if you wish to read more about the exemption to neither confirm nor deny, you can look at guidance from the Information Commissioner.
If you have any further queries in relation to your request, please do not hesitate to contact us.
Your right to complain under the Freedom of Information Act
If you are dissatisfied with the handling of your request, you have the right to ask for an internal review. Internal review requests should be submitted within two months of the date of receipt of the response to your original letter and should be addressed to: FOI Officer, British Business Bank, Steel City House, West Street, Sheffield, S1 2GQ.
Please remember to quote the reference number above in any future communications.
If you are not content with the outcome of the internal review you may apply directly to the Information Commissioner’s Office for a decision. Generally the Commissioner cannot make a decision unless you have exhausted our own complaints procedure. The Information Commissioner can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow Cheshire SK9 5AF www.ico.gov.uk
Yours sincerely,
British Business Bank FoI Officer
Steel City House West Street Sheffield
S1 2GQ
Tel: 0114 206 2131
british-business-bank.co.uk @britishbbank
BBB Reference: 20-032-2
5th August 2020
Dear
RE: Freedom of Information Request
Thank you for your internal review request received by the British Business Bank on 2nd July 2020, where you requested an internal review in relation to the following information:
“I’d like to request information relating to an application for approval under the “Bounceback Loan Scheme (BBLS)” between the British Business Bank and Ulster Community Investment Trust Ltd (UCIT) (and/or Ulster Community Investment Plc).
My request specifically relates to all documentation relating to confirmation and verification that UCIT (and/or Ulster Community Investment Plc) will comply with Paragraph 4.2 of the prospective accredited lender guidance document (minimum of £10,000,000 of new lending during the BBLS scheme period.”
Response:
We are treating your correspondence as a request for information under the Freedom of Information Act 2000 (‘the Act’). Under the Act you have the right to:
- know whether we hold the information you require
- be provided with that information (subject to any exemptions under the Act which may apply).
In response, I have reviewed the handling of your request and concluded:
- The request was answered in time
- The response confirmed an exemption applied and the reasons why
- A public interest test was provided
I have considered if the exemption applied was appropriate and concluded it was based on the following factors:
- BBB consider the application process for an organisation to become an Accredited Lender for the Bounce Back Loan Scheme (BBLS) to be confidential, between the applicant and BBB, and commercial in nature
- Prospective lenders have to provide BBB with information to demonstrate they comply with the BBLS requirements, due diligence and risk assessments as stated in sections 3 and 4 of the BBLS Guidance: https://www.british-business-bank.co.uk/wp- content/uploads/2020/05/BBLS-RFP-final-0.3.pdf)
- BBB publish the names of Accredited Lenders on its website, so the release of information about organisations that have applied, but not published as an Accredited Lender is likely to lead to speculation and impact their reputation and standing in the financial marketplace
- BBB considers the release of information about applications to be commercially sensitive and in some cases may result in Insider Information and / or Market Abuse
I note your request was specific to paragraph 4.2 of the BBLS Guide for documentation about the organisation’s compliance to meet the £10,000,000 lending minimum.
If BBB was to confirm or deny information is held that would disclose whether the organisation has applied to be an Accredited Lender, hence the decision to apply Section 43(3) of the FOIA to neither confirm nor deny the information is upheld.
Further points to note.
- Our response of July 1st included a public interest test
- The purpose of the public interest test is to consider the information being requested and the specific circumstances to determine the public interest in the information being disclosed against the public interest in maintaining the exemption
- Your request is specific to a single organisation and the public interest in a single organisation is much lower than the public interest in maintaining a degree of commercial confidentiality and maintaining a fair and stable financial marketplace
- You have stated the organisation is in receipt of public funds and therefore in the public interest to disclose information in relation to 2. There is public interest in the use of public money, but there are two further points to consider: (a) at the point money is loaned, it is the Lenders money; (b) only the published Accredited Lenders are subject to BBLS guidance and paragraph 4.2
In conclusion I am upholding the decision to rely on Section 43(3) to neither confirm nor deny information is held in relation to the Ulster Community Trust Investment Ltd. and the Bounce Back Loan Scheme.
Section 16 Advice and Assistance
During my review it has come to my attention the Ulster Community Trust Ltd (UCIT) is an Accredited Lender for the Coronavirus Business Interruption Loan Scheme (CBILS) and published as such on our website: https://www.british-business-bank.co.uk/ourpartners/coronavirus- business-interruption-loan-scheme-cbils-2/current-accredited-lenders-and-partners/.
It is possible you meant to request information related to the UCIT’s CBILS application process and as an Accredited Lender to lend an expected minimum of £1,000,000 (section 4.2): https://www.british-business-bank.co.uk/wp-content/uploads/2020/05/200506-RFP-CBILS-11- May-2020.pdf
Section 16 of the FOIA states that public authorities have a duty to provide advice and assistance to requestors, so in the spirit of the law, I have taken the liberty to include a response on the assumption you may have wished to ask for documentation related to the UCIT CBILS application and not the Bounce Back Loan Scheme.
We hold information on the Accredited Lender application process, but for many of the same reasons given above, we consider the information to be confidential, between the organisation and BBB, and commercial in nature.
In this case, as it is in the public domain that the UCIT is an Accredited Lender, we are unable to disclose the information under Section 43(2) on the basis the information is commercial in nature and disclosure is likely to impact the commercial interests of the:
- British Business Bank in its relationship with prospective or current delivery partners amid a reasonable expectation of confidence for the commercial or operational information held
- Ulster Community Investment Trust Ltd in that speculation about its lending decisions, commitments and actions may have an adverse impact on their reputation and financial standing
We recognise that there is a general public interest in the disclosure of information, as greater transparency makes Government more accountable. Against this there is a public interest in ensuring that the commercial interests referred to above are not damaged or undermined by disclosure of information which is not common knowledge, and which could adversely impact these commercial interests. A disclosure of information under the Act releases that information into the public domain and so is in effect, released to the public at large. We have concluded that disclosure of information related to a specific Lenders application to the CBILS is not in the public interest and therefore the public interest favours maintaining the exemption.
I understand this may not be the response you wanted, but I hope it provides a clear explanation to why we have (a) refused to confirm or deny if the BBLS information is held and (b) refused to disclose the CBILS information.
If you have any further queries in relation to your request, please do not hesitate to contact us.
3
Steel City House West Street Sheffield
S1 2GQ
Tel: 0114 206 2131
british-business-bank.co.uk @britishbbank
BBB Reference: 20-033-1
1st July 2020
Dear
RE: Freedom of Information Request
Thank you for your freedom of information request received by the British Business Bank on 3rd June 2020, where you requested the following information:
“I request the following information about the Bounce Back Loan Scheme (BBLS), the Coronavirus Business Interruption Loan Scheme (CBILS) and Coronavirus Large Business Interruption Loan Scheme (CLBILS):
- The name of each firm borrowing under each of the three schemes (BBLS, CBILS, CLBILS)
- The principal amount of each loan to each borrower by name under each of the three schemes (BBLS, CBILS, CLBILS)”
Response:
We are treating your correspondence as a request for information under the Freedom of Information Act 2000 (‘the Act’). Under the Act you have the right to:
- know whether we hold the information you require
- be provided with that information (subject to any exemptions under the Act which may apply).
We can confirm that the British Business Bank holds information within the scope of your request.
We are withholding the requested information as we consider that the disclosure of this information would be likely to prejudice commercial interests and that the exemption in section 43(2) of the Act therefore applies. Relevant commercial interests include those of i) The British Business Bank; ii) Covid-19 Loan Scheme accredited lenders and iii) Loan beneficiaries of the Covid-19 loan schemes.
We recognise that there is a general public interest in the disclosure of information, as greater transparency makes Government more accountable. Against this there is a public interest in
ensuring that the commercial interests referred to above are not damaged or undermined by disclosure of information which is not common knowledge, and which could adversely impact these commercial interests. A disclosure of information under the Act releases that information into the public domain and so is in effect, released to the public at large.
We have concluded that disclosure of this information could damage and adversely affect the commercial interests referred to above. We consider that the public interest in favour of disclosing this information is outweighed by the necessity to protect commercial interests. The British Business Bank’s decision is therefore to withhold this information.
General statistics in relation to the Covid-19 loan schemes is available here:-
https://www.gov.uk/government/collections/hm-treasury-coronavirus-covid-19-business-loan- scheme-statistics
If you have any further queries in relation to your request, please do not hesitate to contact us.
Your right to complain under the Freedom of Information Act
If you are dissatisfied with the handling of your request, you have the right to ask for an internal review. Internal review requests should be submitted within two months of the date of receipt of the response to your original letter and should be addressed to: FOI Officer, British Business Bank, Steel City House, West Street, Sheffield, S1 2GQ.
Please remember to quote the reference number above in any future communications.
If you are not content with the outcome of the internal review you may apply directly to the Information Commissioner’s Office for a decision. Generally the Commissioner cannot make a decision unless you have exhausted our own complaints procedure. The Information Commissioner can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow Cheshire SK9 5AF www.ico.gov.uk
Yours sincerely,
British Business Bank FoI Officer
2
Reference: FOI 20-033-2
06/10/2020
Dear
RE: Freedom of Information Request
I write in reference to your request of August 18th for an internal review to the response we provided on July 1st to exempt the information you requested on June 3rd:
“I request the following information about the Bounce Back Loan Scheme (BBLS), the Coronavirus Business Interruption Loan Scheme (CBILS) and Coronavirus Large Business Interruption Loan Scheme (CLBILS):
- The name of each firm borrowing under each of the three schemes (BBLS, CBILS, CLBILS)
- The principal amount of each loan to each borrower by name under each of the three schemes (BBLS, CBILS, CLBILS)”
Response:
Under the Freedom of Information Act 2000 (‘the Act’), we are required to confirm if the information you requested is held and to provide the information or to apply an exemption and explain why the exemption applies along with reference to your rights to appeal.
In response to your request of August 18th, I have carried out a review to the handling of your request and concluded the response:
- was answered in time
- confirmed and identified the exemption applied
- confirmed your rights to appeal
I have considered if the application of Section 43(2) was justified and concluded it was, but recognise the response did not provide the details to fully explain the prejudice to commercial interests or the public interest test; consequently, I have included these in this response.
Prejudice to Commercial Interests
Section 43(2) provides information is exempt if its disclosure would, or would be likely to, prejudice the commercial interests of a person; a person can be an individual or any legal entity.
In this case, we believe the disclosure of the names of the firms borrowing under each of the schemes (hereafter the Recipients) would be likely to prejudice the commercial interests of:
The Recipients: The purpose of the Loans is to support businesses facing financial difficulties because of limited cashflow or a loss of revenue due to the Coronavirus pandemic. Publishing a list of the Recipients would be likely to result in speculation about the Recipients’ financial position and the perception of weak cash reserves or poor business acumen. This speculation may be unfair because businesses may have applied for a loan for contingency purposes and not drawn it, which could affect customer confidence and a business’s ability to trade, for example customers may purposefully avoid trading with businesses that have received a loan, especially if a customer is required to pay substantial sums in advance of services or goods. For larger businesses, the disclosure may affect their position in the market and share prices. The disclosure may also affect the trust Recipients have with Lenders and the Loan Schemes and, amid concerns their financial circumstances are subject to public disclosure and speculation, may seek alternative sources of finance, which may be more expensive and result in further financial pressures.
The Lenders: Rely on maintaining trust with their Customers and the decision to disclose the names of the Recipients (their customers) would have an adverse impact on this relationship given the expectation of customer confidentiality.
The British Business Bank (BBB): BBB’s objectives are to work with financial organisations, not compete with them, which relies on good working relations with Lenders as key delivery partners to the Loan Schemes. These relationships are covered by agreement, which confirm the BBB’s obligations under the Freedom of Information Act to release information where lawful to do so, but in this case we believe the information is exempt and disclosure would have an adverse impact on the relationship between BBB and Lenders. There is a risk Lenders and prospective Recipients and other Borrowers, for example Start Up Loans customers, may choose not to work with BBB in the future because of concerns that private and personal information is unfairly disclosed to the public.
Likelihood of prejudice
Relying on Section 43(2) requires us to consider the likelihood of the prejudice and whether it ‘would’ or ‘would be likely to occur’. We believe the prejudice ‘would be likely to occur’ on the basis that prejudice may not affect all of the persons, in particular all of the Recipients, but it is likely to affect a proportion of them given the continued pressures from the Coronavirus pandemic.
Public Interest Test
The purpose of the public interest test is to consider the circumstances of the request and weigh the public interest in maintaining the exemption against the public interest in disclosure. The public interest means the public good, not what is of interest to the public, and not the private interests of the requester.
The public interest factors in favour of disclosing the information:
- There is always a general public interest in transparency and how Government and public authorities operate, make decisions and spend money, which in essence is the purpose of the Freedom of Information Act to enable the public to ask questions, be informed and engage with decisions and affairs that affect the public and society as a
- There is a high public interest in the Loan Schemes because of the number of loans awarded, in excess of 1.3 million loans amounting to over £50 billion, based on HM Treasury statistics of September 20th 2020 (https://gov.uk/government/collections/hm-treasury-coronavirus- covid-19-business-loan-scheme-statistics). Although it is the Lenders money being loaned, the Government has agreed to pay the first 12 months of interest payments and cover 80% or 100% of loans in the event the Recipient defaults. In consequence, the loans involve public money and there is a public interest in knowing who has received a loan.
- There is a public interest in protecting public money and preventing and combating financial crime including fraud. The speed of the introduction of the Loan Schemes, the number of loans and substantial amounts of money have given rise to concerns about the risk of fraudulent claims and default payments and the release of the names of the Recipients would help law enforcement agencies and other third parties to identify and investigate possible cases of
The public interest factors in maintaining the exemption:
- There is a public interest is preventing any prejudice-based detriment. We have concerns that the release of the names of the Recipients would be likely to prejudice the commercial interests of the Persons mentioned above. Section 43 considers the commercial interests of specific persons and circumstances, but it is impossible to determine how many persons could be prejudiced, so we are having to take a wider perspective because of the sheer number of Recipients and Lenders involved, over 3 million and 100 respectively. In practice, the detriment to just one Person would warrant the exemption.
- There is public interest in supporting business during the Coronavirus pandemic and enabling them to continue to trade in difficult circumstances. The disclosure of the Recipient names is likely to lead to an increase in speculation about their business affairs, which would impact the Recipients and potentially make trading more difficult. The disclosure may also put businesses off from applying for a Loan and contribute to businesses ceasing to
- There is a public interest in tackling fraud and financial crime. The release of the information is likely to be well publicised and an interest to the public. At a local level, members of the public are likely to look for specific businesses and with local knowledge report suspected cases of
fraud. At a national level, the press and other professional subject matter experts will form opinions on certain Recipients, which although may help identify some possible cases of fraud, is likely to increase pressure on the Recipients and the Lenders, at a continued time of economic uncertainty, and potentially disrupt or impact on the agencies involved in investigating fraudulent activity.
- Finally, the financial services industry is an important part of the UK economy and there is a strong public interest in ensuring the financial sector can operate effectively and to maintain the reasonable expectation of confidentiality with customers. Lenders have established processes to monitor, report and investigate any concerns they have about customers without the need for information to be disclosed to the
On review of the factors above, we believe the public interest test favours to maintain the exemption. This decision is based on the premise that the disclosure of the Recipient names would be likely to prejudice the commercial interests of the Recipients and the Lenders and potentially have an adverse impact on the UK’s economy.
In addition to Section 43(2), I also consider the following exemptions are applicable: Section 40 (personal data) and Section 31 (law enforcement).
Section 40 Personal Data
Section 40(2) provides personal data is exempt if its disclosure would contravene one of the data protection principles in Article 5 of the General Data Protection Regulation. In this case, a proportion of the Bounce Back Loan Recipients are sole traders and limited partnerships and the release of the business names or trading names would identify individuals or make them more identifiable. There is a strong likelihood that the release of the Loan Recipients would result in increased speculation into their financial and personal circumstances, for instance (i) a belief that their business is ‘in difficulties’ and therefore unable to fulfil future obligations, (ii) a belief (local or national) that the Scheme has been abused, and/or that the loan was undeserved or fraudulent, or (iii) a belief that the loan was misspent, especially if the business later defaults on the loan.
Recipients have in the ordinary course of financing arrangements (in the absence of the Government Loan Schemes), a reasonable expectation that their financial circumstances and lender relationship arrangements are carried out in confidence and that their associated personal data would be protected, used for very limited purposes and not be disclosed to the general public.
Section 31 Prejudice to Law Enforcement
Section 31 allows information to be exempt if its disclosure would or would be likely to prejudice the prevention or detection of crime and to protect society from crime and its impact. In this case, the disclosure of the Recipient names is likely to provide criminals with sufficient information that they can use to target or impersonate Recipients, Non-Recipients, Lenders and BBB with false communications or phishing attacks in the attempt to obtain money or further information that may result in fraudulent activity, for example false claims, money laundering, etc.
Section 31 is subject to a public interest test and the key points are identified in the above public interest apply, there is also the threat of cybercrime. The National Cyber Security Centre reported the Coronavirus pandemic has given rise to cybercrime and the attempt to exploit people’s concerns and obtain funds or information: https://www.ncsc.gov.uk/news/cyber-experts-step-criminals-exploit- coronavirus. In consequence, we believe the release of the Recipients names would provide cybercriminals sufficient information to target businesses and Lenders to try and fraudulently obtain loans or payments or information and, as the Loan Schemes have extended to November 30th, consider it is in the public interest to maintain the exemption.
I understand this may not be the response you wanted, but I hope it has explained why we have taken the decision to exempt the information.
Your right to complain under the Freedom of Information Act
If you are not content with the outcome of this internal review you may apply directly to the Information Commissioner’s Office for a decision. The Information Commissioner can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow, Cheshire SK9 5AF (www.ico.gov.uk).
Yours sincerely,
Senior Information Risk and Assurance Manager, British Business Bank foirequests@british-business-bank.co.uk
BBB Reference: 20-037-1
14th July 2020
Dear
RE: Freedom of Information Request
Thank you for your freedom of information request received by the British Business Bank on 17th June 2020, where you requested the following information:
“I would like to make freedom of information request about Bounce Back Loan Scheme. I would like to know the following:
- Full criteria including lending criteria
- what checks are made
- complete policy
- how does this affect the directors who apply for loan on the company’s behalf?
- Are any inquiries made with credit reference agencies and if so, what inquiries and on whose profile, company or the director?
- Do the banks register Bounce back loan with credit reference agencies? If so, do they register against the business or individual director who applies the loan?
- If in the future, the director (who applied and secured the loan), resigns from the business, does he still carry the liability of repaying the loan he got for the business during his tenure as he was the signatory?
- If a person is director of 2 businesses, owned by 2 different individuals (A and B), can he apply for 2 separate loans for 2 separate businesses?”
Response:
We are treating your correspondence as a request for information under the Freedom of Information Act 2000 (‘the Act’). Under the Act you have the right to:
- know whether we hold the information you require
- be provided with that information (subject to any exemptions under the Act which may apply).
We can confirm that the British Business Bank holds information within the scope of your request.
The answers to the majority of your questions regarding the Bounce Back Loan Scheme are available on our web site here:-
https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan- schemes/bounce-back-loans/faqs-for-small-businesses/
In relation to question 7, the business is liable for the debt, rather than the director (unless the company is a sole trader, whereby the director is solely responsible for the business).
If you have any further queries in relation to your request, please do not hesitate to contact us.
Your right to complain under the Freedom of Information Act
If you are dissatisfied with the handling of your request, you have the right to ask for an internal review. Internal review requests should be submitted within two months of the date of receipt of the response to your original letter and should be addressed to: FOI Officer, British Business Bank, Steel City House, West Street, Sheffield, S1 2GQ.
Please remember to quote the reference number above in any future communications.
If you are not content with the outcome of the internal review you may apply directly to the Information Commissioner’s Office for a decision. Generally the Commissioner cannot make a decision unless you have exhausted our own complaints procedure. The Information Commissioner can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow Cheshire SK9 5AF www.ico.gov.uk
Yours sincerely,
British Business Bank FoI Officer
BBB Reference: 20-040-1
28th July 2020
Dear
RE: Freedom of Information Request
Thank you for your freedom of information request received by the British Business Bank on 30th June 2020, where you requested the following information:
“As of 30th June 2020 what amount of money has been lent by TIDE and guaranteed by HM Treasury via the BBL scheme.”
Also “The total number of loans advanced as of 20/6/20 by TIDE and guaranteed by HM Treasury via the BBL Scheme”
Response:
We are treating your correspondence as a request for information under the Freedom of Information Act 2000 (‘the Act’). Under the Act you have the right to:
- know whether we hold the information you require
- be provided with that information (subject to any exemptions under the Act which may apply).
We can confirm that the British Business Bank holds information within the scope of your request.
We are withholding the requested information as we consider that the disclosure of this information would be likely to prejudice commercial interests and that the exemption in section 43(2) of the Act therefore applies. Relevant commercial interests include those of i) The British Business Bank; ii) Bounce Back Loan Scheme accredited lenders and iii) Loan beneficiaries of the Bounce Back Scheme.
We recognise that there is a general public interest in the disclosure of information, as greater transparency makes Government more accountable. Against this there is a public interest in ensuring that the commercial interests referred to above are not damaged or undermined by disclosure of information which is not common knowledge, and which could adversely impact these
commercial interests. A disclosure of information under the Act releases that information into the public domain and so is in effect, released to the public at large.
We have concluded that disclosure of this information could damage and adversely affect the commercial interests referred to above. We consider that the public interest in favour of disclosing this information is outweighed by the necessity to protect commercial interests. The British Business Bank’s decision is therefore to withhold this information.
If you have any further queries in relation to your request, please do not hesitate to contact us.
Your right to complain under the Freedom of Information Act
If you are dissatisfied with the handling of your request, you have the right to ask for an internal review. Internal review requests should be submitted within two months of the date of receipt of the response to your original letter and should be addressed to: FOI Officer, British Business Bank, Steel City House, West Street, Sheffield, S1 2GQ.
Please remember to quote the reference number above in any future communications.
If you are not content with the outcome of the internal review you may apply directly to the Information Commissioner’s Office for a decision. Generally the Commissioner cannot make a decision unless you have exhausted our own complaints procedure. The Information Commissioner can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow Cheshire SK9 5AF www.ico.gov.uk
Yours sincerely,
British Business Bank FoI Officer
We have concluded that disclosure of this information could damage and adversely affect the commercial interests referred to above. We consider that the public interest in favour of disclosing this information is outweighed by the necessity to protect commercial interests. The British Business Bank’s decision is therefore to withhold this information.
If you have any further queries in relation to your request, please do not hesitate to contact us.
Your right to complain under the Freedom of Information Act
If you are dissatisfied with the handling of your request, you have the right to ask for an internal review. Internal review requests should be submitted within two months of the date of receipt of the response to your original letter and should be addressed to: FOI Officer, British Business Bank, Steel City House, West Street, Sheffield, S1 2GQ.
Please remember to quote the reference number above in any future communications.
If you are not content with the outcome of the internal review you may apply directly to the Information Commissioner’s Office for a decision. Generally the Commissioner cannot make a decision unless you have exhausted our own complaints procedure. The Information Commissioner can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow Cheshire SK9 5AF www.ico.gov.uk
Yours sincerely,
British Business Bank FoI Officer
BBB Reference: 20-045-2
15th September 2020
Dear
RE: Freedom of Information Request
Thank you for your freedom of information request received by the British Business Bank on 14th July 2020, where you requested the following information:
“I’m reaching out to request information under the FOI act about the rate of defaults on the BBILs and CBILs loans to date. That can be as a percentage and/or a raw number.
I assume defaults would be measured by the number of businesses that took out a loan but have since gone into administration.”
Response:
We are treating your correspondence as a request for information under the Freedom of Information Act 2000 (‘the Act’). Under the Act you have the right to:
- know whether we hold the information you require
- be provided with that information (subject to any exemptions under the Act which may apply).
We can confirm that the British Business Bank holds information within the scope of your request.
We are withholding the requested information as we consider that the disclosure of this information would be likely to prejudice commercial interests and that the exemption in section 43(2) of the Act therefore applies.
If the British Business Bank were to release default rates at this stage, it may have an adverse impact on the scheme, default rates and potentially the amount of money paid out in guarantees.
We recognise that there is a general public interest in the disclosure of information, as greater transparency makes Government more accountable. Against this there is a public interest in
ensuring that the commercial interests referred to above are not damaged or undermined by disclosure of information which is not common knowledge, and which could adversely impact these commercial interests. A disclosure of information under the Act releases that information into the public domain and so is in effect, released to the public at large.
We have concluded that disclosure of this information could damage and adversely affect the commercial interests referred to above. We consider that the public interest in favour of disclosing this information is outweighed by the necessity to protect commercial interests. The British Business Bank’s decision is therefore to withhold this information.
If you have any further queries in relation to your request, please do not hesitate to contact us.
Your right to complain under the Freedom of Information Act
If you are dissatisfied with the handling of your request, you have the right to ask for an internal review. Internal review requests should be submitted within two months of the date of receipt of the response to your original letter and should be addressed to: FOI Officer, British Business Bank, Steel City House, West Street, Sheffield, S1 2GQ.
Please remember to quote the reference number above in any future communications.
If you are not content with the outcome of the internal review you may apply directly to the Information Commissioner’s Office for a decision. Generally the Commissioner cannot make a decision unless you have exhausted our own complaints procedure. The Information Commissioner can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow Cheshire SK9 5AF www.ico.gov.uk
Yours sincerely,
British Business Bank FoI Officer
BBB Reference: 20-046-1
12th August 2020
Dear
RE: Freedom of Information Request
Thank you for your freedom of information request received by the British Business Bank on 15th July 2020, where you requested the following information:
“1. the names of all those companies that have received a Bounce Back Loan Scheme loan
- the names of all those companies that have received loans under the Future Fund
- the names of all those companies that have received loans under the Coronavirus Business Interruption Scheme
- the names of all those companies that have received loans under the Coronavirus Large Business Interruption ”
Response:
We are treating your correspondence as a request for information under the Freedom of Information Act 2000 (‘the Act’). Under the Act you have the right to:
- know whether we hold the information you require
- be provided with that information (subject to any exemptions under the Act which may apply).
We can confirm that the British Business Bank holds information within the scope of your request.
We are withholding the requested information as we consider that the disclosure of this information would be likely to prejudice commercial interests and that the exemption in section 43(2) of the Act therefore applies. Relevant commercial interests include those of i) The British Business Bank; ii) Bounce Back Loan Scheme, Coronavirus Business Interruption Loan Scheme and Coronavirus Large Business Interruption Loan Scheme accredited lenders; iii) Loan beneficiaries of the Bounce Back Loan
Scheme, Coronavirus Business Interruption Loan Scheme, Coronavirus Large Business Interruption and the Future Fund Scheme and iv) Future Fund Scheme investors.
We recognise that there is a general public interest in the disclosure of information, as greater transparency makes Government more accountable. Against this there is a public interest in ensuring that the commercial interests referred to above are not damaged or undermined by disclosure of information which is not common knowledge, and which could adversely impact these commercial interests. A disclosure of information under the Act releases that information into the public domain and so is in effect, released to the public at large.
We have concluded that disclosure of this information could damage and adversely affect the commercial interests referred to above. We consider that the public interest in favour of disclosing this information is outweighed by the necessity to protect commercial interests. The British Business Bank’s decision is therefore to withhold this information.
If you have any further queries in relation to your request, please do not hesitate to contact us.
Your right to complain under the Freedom of Information Act
If you are dissatisfied with the handling of your request, you have the right to ask for an internal review. Internal review requests should be submitted within two months of the date of receipt of the response to your original letter and should be addressed to: FOI Officer, British Business Bank, Steel City House, West Street, Sheffield, S1 2GQ.
Please remember to quote the reference number above in any future communications.
If you are not content with the outcome of the internal review you may apply directly to the Information Commissioner’s Office for a decision. Generally the Commissioner cannot make a decision unless you have exhausted our own complaints procedure. The Information Commissioner can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow Cheshire SK9 5AF www.ico.gov.uk
Yours sincerely,
British Business Bank FoI Officer
Reference: FOI 20-046-2
08/10/2020
Dear
RE: Freedom of Information Request
I write in reference to your request of August 18th for an internal review to the response we provided on August 12th to exempt the information you requested on July 15th:
“1. the names of all those companies that have received a Bounce Back Loan Scheme loan
- the names of all those companies that have received loans under the Future Fund
- the names of all those companies that have received loans under the Coronavirus Business Interruption Scheme
- the names of all those companies that have received loans under the Coronavirus Large Business Interruption ”
Response:
Under the Freedom of Information Act 2000 (‘the Act’), we are required to confirm if the information you requested is held and to provide the information or to apply an exemption and explain why the exemption applies along with reference to your rights to appeal.
In response to your request of August 18th, I have carried out a review to the handling of your request and concluded the response:
- was answered in time
- confirmed and identified the exemption applied
- confirmed your rights to appeal
I have considered if the application of Section 43(2) was justified and concluded it was, but recognise the response did not provide the details to fully explain the prejudice to commercial interests or the public interest test; consequently, I have included these in this response.
Prejudice to Commercial Interests
Section 43(2) provides information is exempt if its disclosure would, or would be likely to, prejudice the commercial interests of a person; a person can be an individual or any legal entity.
In this case, we believe the disclosure of the names of the firms borrowing under each of the schemes (hereafter the Recipients) would be likely to prejudice the commercial interests of:
The Recipients: The purpose of the Loans is to support businesses facing financial difficulties because of limited cashflow or a loss of revenue due to the Coronavirus pandemic. Publishing a list of the Recipients would be likely to result in speculation about the Recipients’ financial position and the perception of weak cash reserves or poor business acumen. This speculation may be unfair because businesses may have applied for a loan for contingency purposes and not drawn it, which could affect customer confidence and a business’s ability to trade, for example customers may purposefully avoid trading with businesses that have received a loan, especially if a customer is required to pay substantial sums in advance of services or goods. For larger businesses, the disclosure may affect their position in the market and share prices. The disclosure may also affect the trust Recipients have with Lenders and the Loan Schemes and, amid concerns their financial circumstances are subject to public disclosure and speculation, may seek alternative sources of finance, which may be more expensive and result in further financial pressures.
The Lenders: Rely on maintaining trust with their Customers and the decision to disclose the names of the Recipients (their customers) would have an adverse impact on this relationship given the expectation of customer confidentiality.
The British Business Bank (BBB): BBB’s objectives are to work with financial organisations, not compete with them, which relies on good working relations with Lenders as key delivery partners to the Loan Schemes. These relationships are covered by agreement, which confirm the BBB’s obligations under the Freedom of Information Act to release information where lawful to do so, but in this case we believe the information is exempt and disclosure would have an adverse impact on the relationship between BBB and Lenders. There is a risk Lenders and prospective Recipients and other Borrowers, for example Start Up Loans customers, may choose not to work with BBB in the future because of concerns that private and personal information is unfairly disclosed to the public.
Likelihood of prejudice
Relying on Section 43(2) requires us to consider the likelihood of the prejudice and whether it ‘would’ or ‘would be likely to occur’. We believe the prejudice ‘would be likely to occur’ on the basis that prejudice may not affect all of the persons, in particular all of the Recipients, but it is likely to affect a proportion of them given the continued pressures from the Coronavirus pandemic.
Public Interest Test
The purpose of the public interest test is to consider the circumstances of the request and weigh the public interest in maintaining the exemption against the public interest in disclosure. The public interest means the public good, not what is of interest to the public, and not the private interests of the requester.
The public interest factors in favour of disclosing the information:
- There is always a general public interest in transparency and how Government and public authorities operate, make decisions and spend money, which in essence is the purpose of the Freedom of Information Act to enable the public to ask questions, be informed and engage with decisions and affairs that affect the public and society as a
- There is a high public interest in the Loan Schemes because of the number of loans awarded, in excess of 1.3 million loans amounting to over £50 billion, based on HM Treasury statistics of September 20th 2020 (https://gov.uk/government/collections/hm-treasury-coronavirus- covid-19-business-loan-scheme-statistics). Although it is the Lenders money being loaned, the Government has agreed to pay the first 12 months of interest payments and cover 80% or 100% of loans in the event the Recipient defaults. In consequence, the loans involve public money and there is a public interest in knowing who has received a loan.
- There is a public interest in protecting public money and preventing and combating financial crime including fraud. The speed of the introduction of the Loan Schemes, the number of loans and substantial amounts of money have given rise to concerns about the risk of fraudulent claims and default payments and the release of the names of the Recipients would help law enforcement agencies and other third parties to identify and investigate possible cases of
The public interest factors in maintaining the exemption:
- There is a public interest is preventing any prejudice-based detriment. We have concerns that the release of the names of the Recipients would be likely to prejudice the commercial interests of the Persons mentioned above. Section 43 considers the commercial interests of specific persons and circumstances, but it is impossible to determine how many persons could be prejudiced, so we are having to take a wider perspective because of the sheer number of Recipients and Lenders involved, over 3 million and 100 respectively. In practice, the detriment to just one Person would warrant the exemption.
- There is public interest in supporting business during the Coronavirus pandemic and enabling them to continue to trade in difficult circumstances. The disclosure of the Recipient names is likely to lead to an increase in speculation about their business affairs, which would impact the Recipients and potentially make trading more difficult. The disclosure may also put businesses off from applying for a Loan and contribute to businesses ceasing to
- There is a public interest in tackling fraud and financial crime. The release of the information is likely to be well publicised and an interest to the public. At a local level, members of the public are likely to look for specific businesses and with local knowledge report suspected cases of
fraud. At a national level, the press and other professional subject matter experts will form opinions on certain Recipients, which although may help identify some possible cases of fraud, is likely to increase pressure on the Recipients and the Lenders, at a continued time of economic uncertainty, and potentially disrupt or impact on the agencies involved in investigating fraudulent activity.
- Finally, the financial services industry is an important part of the UK economy and there is a strong public interest in ensuring the financial sector can operate effectively and to maintain the reasonable expectation of confidentiality with customers. Lenders have established processes to monitor, report and investigate any concerns they have about customers without the need for information to be disclosed to the
On review of the factors above, we believe the public interest test currently favours the exemption. This decision is based on the view the Government and BBB is publishing information about the Schemes and to disclose the names of the Recipients, at this stage, is likely to have an adverse impact on the Recipients and potentially the UK economy.
For reference:
- HM Treasury published figures for the number of loan applications and their total value: https://gov.uk/government/collections/hm-treasury-coronavirus-covid-19-business-loan- scheme-statistics
- BBB published regional figures for where the Loans have been awarded: https://www.british- business-bank.co.uk/coronavirus-loan-schemes-benefiting-businesses-in-all-corners-of-uk- reveals-new-analysis-from-british-business-bank/
- BBB published its Reservation Notices of BBB’s concerns in relation to the BBLS and Future Fund Schemes: https://british-business-bank.co.uk/british-business-bank-publishes- reservation-notice-and-ministerial-direction-for-the-bounce-back-loan-scheme/ and https://www.british-business-bank.co.uk/reservation-notice-for-the-future-fund/
- Department for Business, Energy and Industrial Strategy (BEIS) published its Annual Report and Accounts, which includes loss estimates for all of the Covid-19 Loan Schemes: https://gov.uk/government/publications/beis-annual-report-and-accounts-2019-to-2020
- National Audit Office published its Investigation into the Bounce Back Loan Scheme: https://nao.org.uk/report/bounce-back-loan-scheme/
In addition to Section 43(2), I also consider the following exemptions are applicable: Section 40 (personal data) and Section 31 (law enforcement).
Section 40 Personal Data
Section 40(2) provides personal data is exempt if its disclosure would contravene one of the data protection principles in Article 5 of the General Data Protection Regulation. In this case, a proportion of the Bounce Back Loan Recipients are sole traders and limited partnerships and the release of the business names or trading names would identify individuals or make them more identifiable. There is a strong likelihood that the release of the Loan Recipients would result in increased speculation into their financial and personal circumstances, for instance (i) a belief that their business is ‘in difficulties’ and therefore unable to fulfil future obligations, (ii) a belief (local or national) that the Scheme has been abused, and/or that the loan was undeserved or fraudulent, or (iii) a belief that the loan was misspent, especially if the business later defaults on the loan.
Recipients have in the ordinary course of financing arrangements (in the absence of the Government Loan Schemes), a reasonable expectation that their financial circumstances and lender relationship arrangements are carried out in confidence and that their associated personal data would be protected, used for very limited purposes and not be disclosed to the general public.
Section 31 Prejudice to Law Enforcement
Section 31 allows information to be exempt if its disclosure would or would be likely to prejudice the prevention or detection of crime and to protect society from crime and its impact. In this case, the disclosure of the Recipient names is likely to provide criminals with sufficient information that they can use to target or impersonate Recipients, Non-Recipients, Lenders and BBB with false communications or phishing attacks in the attempt to obtain money or further information that may result in fraudulent activity, for example false claims, money laundering, etc.
Section 31 is subject to a public interest test and the key points are identified in the above public interest apply, there is also the threat of cybercrime. The National Cyber Security Centre reported the Coronavirus pandemic has given rise to cybercrime and the attempt to exploit people’s concerns and obtain funds or information: https://www.ncsc.gov.uk/news/cyber-experts-step-criminals-exploit- coronavirus. In consequence, we believe the release of the Recipients names would provide cybercriminals sufficient information to target businesses and Lenders to try and fraudulently obtain loans or payments or information and, as the Loan Schemes have extended to November 30th, consider it is in the public interest to maintain the exemption.
I understand this may not be the response you wanted, but I hope it has explained why we have taken the decision to exempt the information.
Your right to complain under the Freedom of Information Act
If you are not content with the outcome of this internal review you may apply directly to the Information Commissioner’s Office to consider the way your request has been handled. The Information Commissioner can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow, Cheshire SK9 5AF or see their website at www.ico.gov.uk.
Yours sincerely,
Senior Information Risk and Assurance Manager, British Business Bank foirequests@british-business-bank.co.uk
Steel City House West Street Sheffield
S1 2GQ
Tel: 0114 206 2131
british-business-bank.co.uk @britishbbank
BBB Reference: 20-050-1
19th August 2020
Dear
RE: Freedom of Information Request
Thank you for your freedom of information request received by the British Business Bank on 22nd July 2020, where you requested the following information:
“Can you please release all information related to your decision to accredit Tide Platform Ltd to deliver the Bounce Back Loan Scheme – specifically with regard to their ability to lend to their existing customer base.
I understand some of this may be redacted, but clearly, as they have failed, and have now withdrawn their scheme, a clear public interest must be served by seeing how such a scheme was approved.”
Response:
We are treating your correspondence as a request for information under the Freedom of Information Act 2000 (‘the Act’). Under the Act you have the right to:
- know whether we hold the information you require
- be provided with that information (subject to any exemptions under the Act which may apply)
We can confirm the British Business Bank holds information within the scope of your request, but we consider the information to be exempt from disclosure under section 43(2) of the Freedom of Information Act 2000. Section 43(2) provides that information is exempt if its disclosure would or would be likely to prejudice the commercial interests of a person; a person can be an individual, a company, the British Business Bank itself or any other legal entity. In this case, we consider the information held in relation to the accreditation process for Tide to be commercial in nature and its release would be likely to prejudice the commercial interests of i) Tide, ii) the British Business Bank, and iii) prospective or current accredited lenders.
Section 43 is a qualified exemption and is subject to a public interest test.
The purpose of the public interest test is to consider the information being requested and the specific circumstances to determine the public interest in the information being disclosed against the public interest in maintaining the exemption
In favour of the information being disclosed:
- The British Business Bank is a public authority and there is a strong public interest in the way public authorities operate to ensure there is transparency and
- The COVID-19 Loan Schemes, including the Bounce Back Loans, involve the loan of substantial amounts of money by Lenders to businesses, that are largely guaranteed by the Government and in turn public
- There is public interest in the British Business Bank accreditation scheme to ensure it is robust and Lenders can fulfil the requirements of the Bounce Back Loan Scheme as required in the Lender Guidance: https://www.british-business-bank.co.uk/wp- content/uploads/2020/05/BBLS-RFP-final-0.3.pdf.
In favour of maintaining the exemption:
- Prospective lenders undergo an accreditation process and provide the British Business Bank with information to demonstrate they comply with the requirements of the Bounce Back Loan Scheme (BBLS), which includes due diligence and risk assessments, as stated in sections 3 and 4 of the BBLS Guidance: https://british-business-bank.co.uk/wp- content/uploads/2020/05/BBLS-RFP-final-0.3.pdf). Both parties have a reasonable expectation that the accreditation process is carried out with a degree of confidence and the information and discussions held are not released to the general public.
- The release of the details surrounding the accreditation process may present an opportunity to misuse the Scheme or the conditions, which would impact the commercial interests of the British Business Bank in general as well as any affected
- The British Business Bank’s aim is to work with delivery partners and not to compete with them, which relies on trust and good working relationships with its existing and any prospective delivery partners. The wrongful release of commercial information about a delivery partner is likely to impact these relations and the ability for the British Business Bank to work with such partners to help unlock finance for businesses across the
- The Lenders decide upon the Applicant or Borrower’s Bounce Back Loan application and, if a loan is granted, it is the Lender’s money being loaned; at the time of the loan, the money is not public money and the Borrower remains fully liable for the
- Tide has itself made several public announcements about its application to be a lender, its acceptance on May 15th, its success in loaning millions of pounds and subsequently their decision, on July 7th, to pause its lending and close its waiting list. For reference: https://www.tide.co/blog/coronavirus/update-on-tide-bounce-back-loans-a-letter-to-all- members-from-oliver-our-ceo/ and https://www.tide.co/bounce-back-loans/.
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We recognise there is a general public interest in the disclosure of information, as greater transparency makes public authorities more accountable. Against this, there is a public interest in ensuring that the commercial interests referred to above are not damaged or undermined by disclosure of information which is not common knowledge, and which could adversely impact a person’s commercial interests. Disclosure under the Freedom of Information Act is to the public at large and therefore we do not consider the release of the information held as part of the accreditation process to a specific organisation to be in the public interest.
If you have any further queries in relation to your request, please do not hesitate to contact us.
Your right to complain under the Freedom of Information Act
If you are dissatisfied with the handling of your request, you have the right to ask for an internal review. Internal review requests should be submitted within two months of the date of receipt of the response to your original letter and should be addressed to: FOI Officer, British Business Bank, Steel City House, West Street, Sheffield, S1 2GQ.
Please remember to quote the reference number above in any future communications.
If you are not content with the outcome of the internal review you may apply directly to the Information Commissioner’s Office for a decision. Generally the Commissioner cannot make a decision unless you have exhausted our own complaints procedure. The Information Commissioner can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow Cheshire SK9 5AF www.ico.gov.uk
Yours sincerely,
British Business Bank FoI Officer
Steel City House West Street Sheffield
S1 2GQ
Tel: 0114 206 2131
british-business-bank.co.uk @britishbbank
BBB Reference: 20-050-1
19th August 2020
Dear
RE: Freedom of Information Request
Thank you for your freedom of information request received by the British Business Bank on 22nd July 2020, where you requested the following information:
“How many banks have been authorised to deliver BBS?
How many are offering those to all eligible businesses, not just ‘for-profit’ businesses? What percentage of for profit businesses have received BBLs?
What percentage of eligible not-for profit and similar community based businesses have received BBLs?
How many banks are authorised to offer BBLs?
How many of those limit their lending under the BBL scheme to ‘for-profit’ organisations and do not provide a service to the third sector?”
Response:
We are treating your correspondence as a request for information under the Freedom of Information Act 2000 (‘the Act’). Under the Act you have the right to:
- know whether we hold the information you require
- be provided with that information (subject to any exemptions under the Act which may apply)
We can confirm that the British Business Bank holds some information within the scope of your request.
There are currently 27 accredited lenders. Details of Bounce Back Loan Scheme accredited lenders is available on our website here:-
https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-
interruption-loan-schemes/bounce-back-loans/current-accredited-lenders-and-partners/
We do not hold information on which lenders offer loans to not for profit businesses. Lenders offer their own standard loan products, which are then backed by the scheme.
We do not hold information on the number of not for profit businesses which have received a loan under the scheme. BBB has access to a web portal where details of loans provided under the scheme is available, however details of whether a business is for profit or not for profit is not captured on the portal.
Under the scheme, you are able to approach any of the accredited lenders, irrespective of whether you hold a business account with them. Further information on the Scheme is available here:-
h ttps://www.british-business-bank.co.uk/ourpartners/coronavirus-business-
interruption-loan-schemes/bounce-back-loans/faqs-for-small-businesses/
If you have any further queries in relation to your request, please do not hesitate to contact us.
Your right to complain under the Freedom of Information Act
If you are dissatisfied with the handling of your request, you have the right to ask for an internal review. Internal review requests should be submitted within two months of the date of receipt of the response to your original letter and should be addressed to: FOI Officer, British Business Bank, Steel City House, West Street, Sheffield, S1 2GQ.
Please remember to quote the reference number above in any future communications.
If you are not content with the outcome of the internal review you may apply directly to the Information Commissioner’s Office for a decision. Generally the Commissioner cannot make a decision unless you have exhausted our own complaints procedure. The Information Commissioner can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow Cheshire SK9 5AF www.ico.gov.uk
Yours sincerely,
British Business Bank FoI Officer
Steel City House West Street Sheffield
S1 2GQ
Tel: 0114 206 2131
british-business-bank.co.uk @britishbbank
BBB Reference: 20-055-1
26th August 2020
Dear
RE: Freedom of Information Request
Thank you for your freedom of information request received by the British Business Bank on 3rd August 2020, where you requested the following information:
“We have had a request for information relating to the above Company referred from the Dept. for Business, Energy and Industrial Strategy to yourselves.
In particular, we would like to request any information (under the FoI Act) you may have as to whether XXX I have edited out the name of the business entity is in receipt of any interest-free government loans, or other Government financial support, in respect of the Covid-19 pandemic?
Response:
We are treating your correspondence as a request for information under the Freedom of Information Act 2000 (‘the Act’). Under the Act you have the right to:
- know whether we hold the information you require
- be provided with that information (subject to any exemptions under the Act which may apply).
Under section 1(1)(a) of the Freedom of Information Act 2000 (FOIA), we are required to confirm if the information you requested is held or not, but there are exceptions to this and we have decided to apply section 43(3) of the FOIA to neither confirm nor deny information is held. A public authority can use section 43(3) if to confirm or deny information is held would, or would be likely to, prejudice a person’s commercial interests. A person can be an organisation, individual or any legal entity.
When relying on Section 43, we are required to explain what the prejudice is and to whom it may affect and its likelihood of occurring.
For background, the British Business Bank facilitates the Government backed Loans Scheme – the Coronavirus Business Interruption Loan Scheme, Coronavirus Large Business Interruption Loan Scheme, Bounce Back Loan Scheme and the Future Fund scheme. Further information in relation to these schemes is available here:-
https://www.british-business-bank.co.uk/finance-hub/find-a- way/?gclid=EAIaIQobChMIotWWzOWz6wIVEoFQBh0hBQM1EAAYASAAEgKl5fD BwE
The British Business Bank obtains information from accredited lenders under the Covid-19 debt schemes and investors and investee companies under the Future Fund scheme, which we consider to be commercial in nature and its release to the public likely to prejudice the commercial interests of:
- the accredited lenders; that the information they provide to the British Business Bank about their customers is given with a reasonable expectation of confidence that it will not be disclosed to the general public. The release of such information is likely to impact on the relationships between the lenders and their customers as well as the lenders and the British Business Bank, especially as the money being loaned, at the time of the loan, belongs to the lender and is not public
- the loan beneficiaries; that the loan application to the lender is made with a reasonable expectation of confidence that their commercial circumstances are not disclosed to the general public. If the information was disclosed, for example the amount of the loan and when it was drawdown, it is likely to result in speculation about their financial circumstances and impact on future business opportunities, sales and recovery, consumer confidence and for larger companies, possibly share
- Investors and investee companies of the Future Fund Scheme. Any application is made with a reasonable expectation of confidence that their commercial circumstances are not disclosed to the general public. If the information was disclosed, for example the amount of the loan and the amount of investment from BBB/Private investors is likely to result in speculation about their financial circumstances and impact on future business opportunities, sales and recovery, consumer confidence and for larger companies, possibly share
- the British Business Bank; the incorrect disclosure of commercial information is likely to impair relations with its current financial partners (accredited lenders) and prospective delivery partners, which the Bank sees as crucial to enabling the Covid-19 Loan Schemes, but to also meet its fundamental mission to making finance markets work better for small businesses in the
We consider the disclosure of the names of businesses that have been offered or received a Government backed loan is likely to result in increased speculation about the business and the persons associated with the business, and impact their financial reputation, business opportunities and commercial interests.
Section 43 is a qualified exemption and subject to a public interest test. The intention of the public interest test is to consider the information being requested and the specific circumstances to
determine if the public interest favours the disclosure of the information or the maintaining of the exemption. Please note, the following public interest test is generic and not related to any one specific business.
In favour of disclosing the name(s) of companies receiving a loan:
- The British Business Bank is a public authority and there is a strong public interest in the way public authorities operate to ensure there is transparency and
- The COVID-19 Loan Schemes involve the loan of substantial amounts of money by lenders to businesses, which are guaranteed by the Government and in turn may draw upon public money.
- The Future Fund Scheme involves direct investment of public money into investee companies eligible to apply under the
In favour of maintaining the exemption to withhold the name(s) of companies in receipt of a loan:
- There is a public interest in ensuring customer relationships are carried out with a reasonable expectation of confidence and not have private commercial matters disclosed to the general
- The release of information about existing loan beneficiaries may deter other businesses from seeking loans because of the possible public speculation about the business, or persons associated with the business, and it is not in the public interest to curb business recovery or growth.
- The British Business Bank’s aim is to work with delivery partners, not to compete with them, which relies on trust and good working relationships with its existing and any prospective delivery partners. The wrongful release of commercial information about a delivery partner or loan beneficiary is likely to impact these relations and affect the British Business Bank’s ability to work with such
- Your request is specific to a single organisation and the public interest in a single organisation is much lower than the public interest in maintaining a degree of commercial confidentiality and maintaining a fair and stable financial
On balance, we recognise there is a general public interest in the disclosure of information as greater transparency makes public authorities more accountable. Against this, there is a public interest in ensuring that the commercial interests referred to above are not damaged or undermined by disclosure of information which is not common knowledge, and which could adversely impact a person’s commercial interests. In consequence, we consider the public interest test favours the maintaining of the exemption to neither confirm nor deny the information is held.
Please note the decision to neither confirm nor deny information held is based on a hypothetical argument. We have not checked our records to determine whether the Andante Travels Salisbury applied for a loan because by applying Section 43(3), we do not need to.
If you have any further queries in relation to your request, please do not hesitate to contact us.
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Your right to complain under the Freedom of Information Act
If you are dissatisfied with the handling of your request, you have the right to ask for an internal review. Internal review requests should be submitted within two months of the date of receipt of the response to your original letter and should be addressed to: FOI Officer, British Business Bank, Steel City House, West Street, Sheffield, S1 2GQ.
Please remember to quote the reference number above in any future communications.
If you are not content with the outcome of the internal review you may apply directly to the Information Commissioner’s Office (ICO) for a decision. Generally the ICO cannot make a decision unless you have exhausted our own complaints procedure. The ICO can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow Cheshire SK9 5AF www.ico.gov.uk
Yours sincerely,
British Business Bank FoI Officer
Steel City House West Street Sheffield
S1 2GQ
Tel: 0114 206 2131
british-business-bank.co.uk @britishbbank
BBB Reference: 20-062-1
22nd September 2020
Dear
RE: Freedom of Information Request
Thank you for your freedom of information request received by the British Business Bank on 24th August 2020, where you requested the following information:
“Under the Freedom of Information Act 2000. Can the British Business Bank (BBB) be able to provide me with the following data?:
- The Annual Lending Limits and limit increase for each institution currently part of the BBLS. I would also like to know the date the limits imposed or increased if
- The total value of funds lent by each institution under the
- The number of applications received, accepted and rejected under the
- Would I be able to get any companies house reference numbers attached to the applications?
- The amount invoiced to the BBB by lenders for BIP to
- The value and percentage of public funds involved in the lending amount broken down by institution.
Would you be able to tell me what information is required by the BBB for lenders to provide using the BBB Reporting System?
Can the BBB let me know what other data is held by yourselves?
If there is a case where any of the information cannot be provided as the lender has decided their information between the BBB and themselves to be confidential. Can you please provide me with an explanation for this from the institution?”
Response:
We are treating your correspondence as a request for information under the Freedom of Information Act 2000 (‘the Act’). Under the Act you have the right to:
- know whether we hold the information you require
- be provided with that information (subject to any exemptions under the Act which may apply)
We can confirm the British Business Bank holds information within the scope of your request.
Information in relation to the number of applications received and approved is available here:- https://www.gov.uk/government/collections/hm-treasury-coronavirus-covid-19-business-loan- scheme-statistics
We also hold information on rejected applications, however this is sent to us via each lender on a daily basis, therefore in order to aggregate this information would exceed the 18-hour limit under Section 12 of the Freedom of Information Act.
Details of loans made under the scheme are entered onto a web portal which the British Business Bank has access to. A list of the data fields in the web portal is attached.
The British Business Bank also holds information on:
- The Annual Lending Limits and limit increase for each institution currently part of the Bounce Back Loan Scheme including the date the limits were imposed or increased
- The total value of funds lent by each institution under the
- Companies House reference numbers attached to the applications
- The amount invoiced to the BBB by lenders for BIP to
- The value and percentage of public funds involved in the lending amount broken down by institution.
We consider the information listed above to be exempt from disclosure under section 43(2) of the Freedom of Information Act 2000. Section 43(2) provides that information is exempt if its disclosure would or would be likely to prejudice the commercial interests of a person; a person being an individual, a company, the British Business Bank itself or any other legal entity.
When relying on Section 43, we are required to explain what the prejudice is and to whom it may affect and its likelihood of occurring.
For background, the British Business Bank administers the Bounce Back Loan Scheme on behalf of the Government. Applicants apply to an accredited lender for a loan and the accredited lender decides if the loan is to be made, hence there is a direct relationship between the lender and loan beneficiary. The lenders notify the British Business Bank of all loans made, the date and amount, and to whom.
We consider the information given to us by the lenders to be commercial in nature and its release to the public is likely to prejudice the commercial interests of:
- the accredited lender; that the information they provide to the British Business Bank about their customers is given with a reasonable expectation of confidence that it will not be disclosed to the general public. The release of such information is likely to impact on the relationships between the lenders and their customers as well as the lenders and the
British Business Bank, especially as the money being loaned, at the time of the loan, belongs to the lender and is not public money.
- the loan beneficiaries; that the loan application to the lender is made with a reasonable expectation of confidence that their commercial circumstances are not disclosed to the general public. If we were to confirm that a business was in receipt of a Bounce Back Loan it is likely to result in speculation about their financial circumstances and impact on future business opportunities, sales and recovery, consumer confidence and possibly even share price.
- the British Business Bank; the incorrect disclosure of commercial information is likely to impair relations with its current financial partners (accredited lenders) and prospective delivery partners, which the Bank sees as crucial to enabling the Covid-19 Loan Schemes, but to also meet its fundamental mission to making finance markets work better for small businesses in the
We consider the disclosure of the information is likely to prejudice commercial interests. The Covid-19 Loan Schemes involve substantial amounts of money and the disclosure of the companies that have received a Bounce Back Loan would give rise to speculation and impact the accredited lenders, loan beneficiaries and the British Business Bank.
Section 43 is a qualified exemption and subject to a public interest test. The intention of the public interest test is to consider the information being requested and the specific circumstances to determine if the public interest favours the disclosure of the information or the maintaining of the exemption.
In favour of the information being disclosed:
- The British Business Bank is a public authority and there is a strong public interest in the way public authorities operate to ensure there is transparency and
- The COVID-19 Loan Schemes, including the Bounce Back Loan Scheme, involve the loan of substantial amounts of money by lenders to companies and businesses, that are largely guaranteed by the Government and in turn public
In favour of maintaining the exemption:
- There is a public interest in ensuring customer relationships are carried out with a reasonable expectation of confidence and not have private matters disclosed to the general public.
- The release of information about existing loan beneficiaries may deter other companies from seeking loans because of the potential public speculation, which is not in the public interest to curb business recovery or
- The money loaned under the Bounce Back Loan Scheme belongs to the lender at the time the loan is made; it is not public money and the Borrower remains fully liable for the loan.
- The British Business Bank’s aim is to work with delivery partners, not to compete with them, which relies on trust and good working relationships with its existing and any prospective
3
delivery partners. The wrongful release of commercial information about a delivery partner or loan beneficiary is likely to impact these relations and affect the British Business Bank’s ability to work with such partners.
On balance, we recognise there is a general public interest in the disclosure of information, as greater transparency makes public authorities more accountable. Against this, there is a public interest in ensuring that the commercial interests referred to above are not damaged or undermined by disclosure of information which is not common knowledge, and which could adversely impact a person’s commercial interests. In consequence, we do not consider the release of the information to be in the public interest,
We appreciate this may not be the response you wanted, but hope it explains why we are refusing to disclose the information.
The British Business Bank also holds information in relation to each lenders expression of interest when they applied to join the scheme as well as any correspondence between the Bank and Bounce Back Loan Scheme lenders.
If you have any further queries in relation to your request, please do not hesitate to contact us.
Your right to complain under the Freedom of Information Act
If you are dissatisfied with the handling of your request, you have the right to ask for an internal review. Internal review requests should be submitted within two months of the date of receipt of the response to your original letter and should be addressed to: FOI Officer, British Business Bank, Steel City House, West Street, Sheffield, S1 2GQ.
Please remember to quote the reference number above in any future communications.
If you are not content with the outcome of the internal review you may apply directly to the Information Commissioner’s Office for a decision. The Commissioner cannot make a decision unless you have exhausted our own complaints procedure. The Information Commissioner can be contacted at: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow Cheshire SK9 5AF www.ico.gov.uk
Yours sincerely,
British Business Bank FoI Officer
Static | Facility reference |
Data | Legal form |
Post code | |
Annual turnover | |
Trading date | |
SIC code | |
SIC code description | |
Purpose of facility | |
Lender code | |
Lender Name | |
Sub-lender | |
Business Name | |
Company Registration | |
Trading Name | |
Facility term | |
Repayment frequency | |
EFG Interest Type | |
EFG Interest Rate | |
EFG Fees | |
Facility Type | |
Security type |
Scheme | Scheme |
Phase | |
Guarantee rate | |
Premium rate | |
Lending Limit |
Facility state
Values | Guarantee Amount |
Initial draw amount | |
Cumulative amount drawn | |
Total lump sum repayments | |
Outstanding Scheme Facility Balance | |
Lender demand amount | |
Outstanding Scheme Facility Principal | |
Total amount claimed under the Government Guarantee | |
Settled amount | |
Cumulative Value of All Settlement Adjustments | |
Total amount recovered | |
Total amount realised | |
Cumulative Value of All Pre-Claim Limit Realisations | |
Cumulative Value of All Post-Claim Limit Realisations | |
Cumulative Value of All Pre-Claim Realisation Adjustments | |
Amount of De Minimis State Aid applicable to this facility (in Euro) |
Dates | Scheme Facility Letter date |
Cancellation date | |
Initial draw date | |
Lender demand date | |
No Claim date | |
Claim Date | |
Settled date | |
Latest Recovered Date | |
Latest realised date | |
Maturity date | |
Repaid date | |
Removed date |
Comments | Cancellation reason |
Cancellation comment | |
Business failure group | |
Business failure category description | |
Business failure description | |
Business failure code | |
Comments on the reason for Demand against the Government Guarantee | |
What is the outstanding balance of the facility, as recorded by the Lender, at the date of removal of the Guarantee? | |
Why was the Guarantee removed from this facility? |
Process | Record created by |
Date and time created | |
Record last modified by | |
Record last modified on | |
Invoice reference | |
Generic lender field 1 | |
Generic lender field 2 | |
Generic lender field 3 | |
Generic lender field 4 | |
Generic lender field 5 | |
Lender’s facility reference | |
Status Amendment Type | |
Status Amendment Notes |
Redundant | Break cost |
Outstanding Scheme Facility Interest | |
Parent SIC description | |
Facility category | |
Facility sub-category | |
Will the granting of this facility be made conditional upon a new charge being taken over a Principal Private Residence? | |
Will the granting of this facility be made conditional upon the provision of one or more personal guarantees, whether supported or unsupported, by the owners, directors, shareholders or others associated with the borrowing business? | |
(For Type B only) Based on your normal security valuation criteria, what proportion of the value of the EFG facility is covered by a specific charge over the asset identified? | |
(For Type D only) What is the current outstanding value of the existing facility or facilities intended to be refinanced? | |
(For Type D only) On completion of the refinancing exercise what will be the total outstanding value, including any new funds provided, of the entire refinanced package? | |
(For Type C only) What proportion of the previous overdraft limit will remain available to the applicant following drawing of the replacement facility? | |
(For Types C & D) Based on your normal security valuation policy, what proportion of the total value of the refinanced package will be covered by any security held? | |
(For Type E & G only) What is the limit of the Applicant’s current overdraft facility (prior to the granting of the EFG facility)? | |
(For Type E & G only) Can you confirm that if the Applicant’s current (or previous) facility has been cancelled (or reduced) in the preceding three months, you have re-assessed the facts, circumstances and matters contributing to the decision, and concluded that the facility satisfies the eligibility criteria for EFG? | |
(For Type F & H only) What limit can be supported under Normal Commercial Lending Policy without EFG? | |
(For Type F & H only) What percentage of the Applicant’s approved debtor book value is covered by their existing invoice discounting facility? | |
(For Type F & H only) What additional percentage (not exceeding either 100% less the existing approved percentage or 30%) of the Applicant’s approved debtor book value will the enhancement represent? |
Type specific variables | Additional Security Amount |
Additional Security included in guarantee | |
Security Classification | |
Total Facility Amount | |
Deposit Amount | |
Residual value to the lender of the asset being acquired or hired | |
Guarantee Percentage | |
Agreement Type | |
Invoice Book Debt Amount | |
Invoice Prepayment Top-up Amount | |
Cost of Asset Amount | |
What are the installation costs? | |
What is the value of part exchange? | |
What is the value of the Contractual Balloon payment to be made by the Applicant at the end of the finance period? | |
A residual value for the asset being acquired or hired has been input and 100% guarantee cover has been requested: is this correct? Please reconfirm. | |
Invoice Finance Facility Amount | |
Revolving Credit Facility Amount | |
Invoice Prepayment Coverage | |
Invoice Prepayment Top-up | |
Repayment repayment_profile | |
Fixed repayment amount | |
EFG Element at Termination | |
Outstanding balance financed less recoveries (net loss) | |
Recoveries from principal private residence | |
Asset category | |
Facility introduced to lender by |