Department for Business and Trade written question – answered am ar 6 Chwefror 2024.
Charlotte Nichols
Llafur, Warrington North
To ask the Secretary of State for Business and Trade, what her Department's policy is on lenders threatening to charge additional fees and penalties on the repayment of loans under the Bounce Back Loan Scheme; and whether her Department has taken enforcement action against such lenders.
Kevin Hollinrake
Parliamentary Under Secretary of State (Department for Business and Trade)
As part of the scheme design, no early repayment fees or other lender-levied fees of any type following drawdown were permitted.
The Lender Audit and Assurance Programme verifies appropriate administration of Covid Loan Scheme portfolios by accredited Delivery Partners in line with their contractual obligations. If any concerns are identified, remedial actions are agreed with Delivery Partners to rectify areas failing to meet guarantee requirements.
Should a person or organisation have any particular concerns or incidents to raise, these can be directed to the British Business Bank via the contact form available at: https://www.british-business-bank.co.uk/contact-details/.
Yes2 people think so
No1 person thinks not
Would you like to ask a question like this yourself? Use our Freedom of Information site.
Secretary of State was originally the title given to the two officials who conducted the Royal Correspondence under Elizabeth I. Now it is the title held by some of the more important Government Ministers, for example the Secretary of State for Foreign Affairs.
