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Business: Government Assistance

Volume 505: debated on Wednesday 10 February 2010

To ask the Minister of State, Department for Business, Innovation and Skills (1) how many loans each participating bank has made under the Enterprise Finance Guarantee scheme (a) overall and (b) to businesses registered in Scotland; (315311)

(2) how much has been lent by each participating bank under the Enterprise Finance Guarantee scheme (a) in total and (b) to businesses registered in Scotland.

As of 27 January 2010, 6,456 businesses have drawn down loans totalling £647.41 million. Of which, in Scotland, 470 businesses have drawn down loans totalling £62.38 million.

Due to confidentiality it is not broken down by bank.

To ask the Minister of State, Department for Business, Innovation and Skills how much funding has been provided to Early Growth Funds in each year since their introduction. (315351)

[holding answer 3 February 2010]: The Early Growth Fund Programme (EGF) was launched in 2002-03 when my right hon. and noble Friend the Secretary of State entered into agreements to provide up to £31.5 million of funding to EGFs. The total programme expenditure to date is £30.17 million.

Details of the sums drawn down are included in the following table:

Drawn down (£)

2002-03

644,109.59

2003-04

4,332,661.00

2004-05

5,383,908.00

2005-06

6,645,079.42

2006-07

5,913,754.00

2007-08

4,127,705.21

2008-09

2,654,192.86

2009-10 (to date)

467,626.70

Total

30,169,036.78