Bouncing Forwards or Backwards? – the Bounce Back Loan System - Part 3
This is the third in a series of popular webcasts we held in 2021.
The Bounce Back Loan Scheme (BBLS) was set up in April 2020 and provided financial support to businesses across the UK that: could benefit from £50,000 or less in finance. The BBLS was available through a range of accredited lenders and partners and the scheme was part of a wider package of government support for UK businesses and employees. The BBLS closed to new applications and applications for Top-ups, on 31 March 2021
The Recovery Loan Scheme (RLS) was announced by the UK Chancellor in the Spring Budget (2021) and replaced the previous coronavirus loan schemes (Bounce Back Loan Scheme / Coronavirus Business Interruption Loan Scheme / Coronavirus Large Business Interruption Loan Scheme), which closed to applications at the end of March 2021.
The RLS has been designed to help businesses of any size as they grow and recover from the disruption of the Covid-19 pandemic. It launched on 6 April 2021 and is open until 30 June 2022 (subject to review).
According to a BBC Report in December 2021 (https://www.bbc.co.uk/news/business-59504943), the National Audit Office estimated that more than a third of loans, worth £17bn, may never be repaid due to both fraudulent activity and legitimate borrowers defaulting.
Our esteemed panel will discuss the successes and failures of the BBLS and RLS from a small business and banks’ perspective, and consider what the options are for banks to recover these loans in the future?
Watch the previous webcasts in this series by clicking below.
How can banks recover bounce back loans?
How can banks recover bounce back loans - The moment of truth
Who should attend?
- Members working in UK business banking roles.
- Members now working as advisers and consultants in/to banks and businesses.
- Students studying subjects including commercial lending.
- Anyone in the sector who wants to know more about the Bounce Back Loan Scheme and how it operated.
Why should I attend?
To educate yourself on how the BBLS and RLS schemes operated, and looking to the future, what the knock-on-effects to banks and small businesses will be.
Chair
Panellists
Martin is the National Vice Chair, Policy & Advocacy for the Federation of Small Businesses. He has been a member of FSB for over 20 years, promoting the interests of our local members through the Darlington Branch Committee, as Vice Chairman of the Regional Committee, and as Chairman of the Local Government Policy Unit. He currently owns and manages three businesses offering public policy, engineering and IT consultancy services. Martin leads the policy team to make sure small business issues are understood and represented in Westminster, Whitehall and Brussels.
Steve has worked in banking for over 40 years and is currently a Non Executive Director at Bank of Ireland where he chairs the Remuneration Committee. He sits on the Advisory Board of The Arora Group and Kingsley Healthcare and was previously on the Financial Capability Board of the Money Advice Service.
During Steve’s banking career he was CEO of The Hodge banking and life assurance businesses and Shawbrook Bank.
Prior to joining Shawbrook in 2008, he led the UK banking businesses of Santander UK sitting on the UK Board of the Holding company and various UK subsidiaries. He also represented Santander on the Board of its US businesses.
Prior to joining Santander in 2008, Steve spent eight years at RBS, where he was CEO of Business Banking, Retail Markets and Managing Director of Commercial Banking and Corporate Banking, Corporate Markets.
Steve was presented with an Honorary Degree of Doctor of the University of Kent in 2016 for his contribution to Banking and the University. He has a young family and in his “spare time” likes to follow Everton football club and Sussex county cricket team.
Mike has policy responsibility for commercial finance, which covers the corporate and SME markets. This includes engagement with government, regulators and key market stakeholders on access to finance, enhanced customer protection, serving customers better, supporting the economy and competitiveness.
Prior to UK Finance, he gained over 35 years’ experience in the banking industry at HSBC, in branch, regional and head office roles, including retail and commercial banking, marketing, strategic planning and implementation, e-commerce. He led on SME, commercial and corporate banking policy issues including the Business Finance Taskforce. At HSBC, he completed secondments with the London Enterprise Agency and HM Treasury. Mike is an associate of the Chartered Institute of Bankers.
1:00 PM - 2:00PM UK GMT
To register, please click here.
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