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Business: Government Assistance

Volume 505: debated on Friday 5 February 2010

To ask the Minister of State, Department for Business, Innovation and Skills how many small businesses in each constituency in the south-west have applied for financial assistance under the (a) Enterprise Finance Guarantee scheme and (b) Capital Enterprise Scheme since its inception; and how many such applications were granted. (314622)

Under the Enterprise Finance Guarantee, as of 27 January, 744 businesses in the south-west region have drawn down loans totalling £66.38 million. The figures for each individual constituency in the South West region will be deposited in the Library of the House. Businesses may apply for a loan from any one of the participating lenders who will assess which form of lending, including the Enterprise Finance Guarantee, is most appropriate. We do not hold figures for those businesses which are instead offered a normal commercial loan, or are rejected for failing to meet the lender's commercial criteria.

With respect to the Capital for Enterprise Fund equity scheme, CfEF received 77 enquiries from businesses in the south-west seeking investment to the value of £84.3 million. Thus far, no businesses have received investment, two businesses have agreed terms on investments with a value £4 million, one business has been offered investment totalling £2 million and one proposition is under active consideration with a value of £1.3 million. The remaining inquiries are either being considered subject to further information to be supplied by the applicant or have been rejected or withdrawn. I am not providing a breakdown by parliamentary constituency or local authority as this could make it possible to identify the individual companies that have received support.

Offered: South West, offered 27 January 2010

Constituency name

Count of loan amount

Sum of loan amount (£ million)

Bath

24

1.20

Bournemouth East

12

1.07

Bournemouth West

20

2.50

Bridgwater

11

0.85

Bristol East

21

2.76

Bristol North West

10

0.71

Bristol South

6

0.45

Bristol West

30

5.02

Cheltenham

21

1.99

Christchurch

15

1.55

Cotswold

16

0.82

Devizes

20

1.22

East Devon

6

0.37

Exeter

24

2.46

Falmouth and Camborne

11

0.85

Forest of Dean

9

0.87

Gloucester

13

0.75

Kingswood

19

1.88

Mid Dorset and North Poole

10

0.58

North Cornwall

31

1.93

North Devon

17

1.61

North Dorset

11

1.02

North Swindon

11

2.02

North Wiltshire

13

1.48

Northavon

19

1.48

Plymouth, Devonport

13

1.65

Plymouth, Sutton

29

1.77

Poole

15

1.57

Salisbury

12

1.01

Somerton and Frome

19

0.90

South Dorset

12

0.64

South East Cornwall

15

2.43

South Swindon

19

3.54

South West Devon

25

3.48

St. Ives

12

0.37

Stroud

21

1.24

Taunton

16

1.27

Teignbridge

6

0.21

Tewkesbury

26

2.69

Tiverton and Honiton

25

2.58

Torbay

13

0.80

Torridge and West Devon

25

1.98

Totnes

19

2.05

Truro and St. Austell

24

1.93

Wansdyke

24

1.17

Wells

26

3.74

West Dorset

22

1.69

Westbury

27

1.54

Weston-Super-Mare

12

1.00

Woodspring

9

0.70

Yeovil

8

0.44

Grand total

874

79.81

Drawn: South West, guaranteed 27 January 2010

Constituency name

Count of loan amount

Sum of loan amount (£ million)

Bath

20

0.87

Bournemouth East

11

0.95

Bournemouth West

14

2.05

Bridgwater

8

0.71

Bristol East

18

2.24

Bristol North West

9

0.64

Bristol South

6

0.45

Bristol West

26

3.42

Cheltenham

21

1.99

Christchurch

13

1.43

Cotswold

13

0.66

Devizes

18

1.05

East Devon

6

0.37

Exeter

20

2.32

Falmouth and Camborne

9

0.78

Forest of Dean

7

0.48

Gloucester

12

0.74

Kingswood

18

1.85

Mid Dorset and North Poole

9

0.55

North Cornwall

28

1.71

North Devon

16

1.37

North Dorset

9

0.66

North Swindon

6

1.76

North Wiltshire

12

1.47

Northavon

16

1.30

Plymouth, Devonport

11

1.60

Plymouth, Sutton

26

1.55

Poole

12

1.21

Salisbury

12

1.01

Somerton and Frome

16

0.77

South Dorset

9

0.48

South East Cornwall

14

2.14

South Swindon

12

2.09

South West Devon

23

3.24

St. Ives

12

0.37

Stroud

19

1.16

Taunton

15

1.21

Teignbridge

5

0.16

Tewkesbury

20

1.37

Tiverton and Honiton

25

2.58

Torbay

10

0.60

Torridge and West Devon

18

1.60

Totnes

16

1.96

Truro and St. Austell

21

1.37

Wansdyke

18

0.81

Wells

22

3.23

West Dorset

20

1.61

Westbury

21

1.00

Weston-Super-Mare

8

0.70

Woodspring

8

0.37

Yeovil

6

0.37

Grand total

744

66.38