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Mr. Cousins
To ask the Secretary of State for Trade and Industry what review of the availability of the small firms loans guarantee scheme she has carried out; and what the outcome was. [104723]
Nigel Griffiths
Following a review of this scheme, its scope is being widened to include:
expanding the sector coverage to include retail, catering, coal, hairdressing and beauty parlours, house and estate agents, libraries, museums and cultural activities, motor vehicle repair and servicing, steel and travel agents;
increasing the maximum turnover limit for the service sector to £3 million;
allow early borrowers to re-qualify for SFLGS support by excluding loans up to March 1993 from counting towards maximum loan amounts;
The changes come into effect from 1 April 2003.currently we expect to guarantee 4,000 applications by the end of the financial year. In view of the chargea we expect a 26 per cent, increase in applications from 1 April 2003.
Mr. Cousins
To ask the Secretary of State for Trade and Industry how many loans were made under the small firms loans guarantee scheme in each region and nation of the UK in the last three financial years; and what the average size of loan was. [104724]
Nigel Griffiths
The following table shows the average loan size and the number of loans guaranteed under the Small Firms Loan Guarantee Scheme in each region and nation of the UK in the last three financial years:
Region | 2000–01 | 2001–02 | 2002–031 |
East Midlands | 368 | 373 | 284 |
Eastern | 495 | 397 | 306 |
Greater London | 325 | 312 | 301 |
North East | 151 | 126 | 111 |
North West | 396 | 451 | 376 |
South East | 476 | 517 | 481 |
South West | 475 | 444 | 341 |
West Midlands | 406 | 369 | 333 |
Yorkshire and Humberside | 320 | 334 | 263 |
Northern Ireland | 36 | 37 | 51 |
Scotland | 621 | 698 | 514 |
Wales | 243 | 211 | 201 |
Total | 4,312 | 4,269 | 3,562 |
Average Loan Size | 55,765 | 59,660 | 68,496 |
1 To end February 2003 |