Future Fund: Newcastle upon Tyne:Written question - 76018

Q
Asked by Chi Onwurah
(Newcastle upon Tyne Central)
[N]
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Named Day

'Named day' questions only occur in the House of Commons. The MP tabling the question specifies the date on which they should receive an answer. MPs may not table more than five named day questions on a single day.

Asked on: 17 July 2020
Department for Business, Energy and Industrial Strategy
Future Fund: Newcastle upon Tyne
Commons
To ask the Secretary of State for Business, Energy and Industrial Strategy, pursuant to the Answer of 24 June 2020 to Question 59769 on Future Fund, how many of the 252 convertible loans were issued to businesses in Newcastle.
A
Answered by: Paul Scully
Answered on: 22 July 2020

On 21 July 2020 the British Business Bank published updated Future Fund data which gives a regional breakdown of 465 companies that have been approved for £468.7m worth of Convertible Loan Agreements since the scheme was launched on 20 May. This data is only available on a regional basis.

In the North East Region, 19 convertible loans have been approved, worth £18.7m. Of the total amount of £468.7m, 11% is to companies headquartered in the North (North West, North East and Yorkshire and the Humber).

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