The BBLS is a demand-led scheme offering lending that targets small and micro businesses, providing loans from £2,000 up to 25% of the business’ turnover, with a maximum loan of £50,000.
The number of BBLS facilities provided to the construction market stands at 173,452.
This equates to 17% of loans given under the scheme.
Even though the construction sector was granted a higher number of facilities, the volume of money given (£5.09bn) was less than the wholesale and retail trade market (£5.9bn).
Construction was also the sector with the second highest number of Coronavirus Business Interruption Loan Scheme (CBILS) facilities (14% of all loans) behind the wholesale and retail trade market (which took up 19%).
The number of CBILS loans provided to the construction sector stands at 6,295, a total of £1.27bn.
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Both schemes provide financial support to businesses across the UK that are losing revenue and seeing their cashflow disrupted as a result of the Covid-19 outbreak.
Paul Scully, small business minister, commented: “Throughout this crisis, we have backed business of all sizes in every corner of the UK.
“The schemes put in place by the government-owned British Business Bank have provided some much-needed breathing space for businesses as they deal with the challenges posed by coronavirus.”
Stephen Pegge, managing director of commercial finance at UK Finance, added: “Lenders understand that times are tough for businesses up and down the country, but the industry has a clear plan to help them get through this crisis.
“Whether you’re a sole trader in a rural area or a company with hundreds of employees in a major city, the banking and finance industry stands ready to offer the right support to suit your needs and these figures demonstrate that funding is well distributed throughout the UK.”