Four times a year the latest facts and figures relating to Bounce Back Loans land on my desk, and as always, I forensically deep dive that information to update my “BBL League of Shame”.
That is an itemised overview of just how each Bounce Back Loan Lenders loan book is performing.
Today, that being the 28th of November 2023 that latest facts and stats have arrived, which covers the period up to and including the 30th of September 2023. The next data dump for reference, is expected at the end of February 2024
Based on the current set of figures that landed today here are the headline Bounce Back Loan figures
Total Drawn Down:
£46,626.92m
Currently Being Paid Back On Time and On Schedule:
£18,534.26m
Currently In Arrears:
£1,907.84m
Currently In Default:
£464.37m
Guarantee Claims Put in and Paid Out to Lenders:
£7,890.24m
Guarantee Claims Put in But Awaiting Being Paid Out to Lenders:
£640.48m
BBLs Repaid in Full By Borrowers:
£5,773.77m
Write-Offs, Defaulter Discounts, Partial Write-Offs and “Other” Etc:
£11,415.96m (Bet that figure shocked you, or maybe not if we have had a chat!)
You will discover just how much each individual Lender lent out via the Bounce Back Loan scheme, their current arrears, and defaults levels and how much each Lender has had paid back to them via BBL Guarantee Claims along with their suspected fraud rates and Guarantee Claims they have had paid out to them on suspected fraud, in the following section of the website >>
https://mrbounceback.com/category/league-of-shame/
Guarantee Removals
Removal of the guarantee is in general instigated when a lender submits a request to remove a guarantee to the British Business Bank, usually when they have made all manner of errors and shouldn’t have paid out a BBL etc.
The payments on each facility are reviewed and where BIP (Business Interruption Payment), SLF (Scheme Lender Fee), or a claim is either paid or received, the amounts are refunded accordingly. The lender is then issued with a communication confirming the guarantee is removed from the facility.
As at 11 October 2023, the government guarantee has been removed from 10,786 loans to a total value of £979,202,191. Guarantee removal values and volumes can and do fluctuate; guarantees can be retrospectively removed or added at any given time. It is important to note all amendments are processed in accordance with the British Business Bank & Scheme governance requirements.