This page was last updated on 25 May 2011.
The statistics on this page show the key performance indicators of Growth Fund delivery. All the statistics shown are cumulative totals for the key aspects of performance since Growth Fund contractors began issuing affordable loans (July 2006) until the latest month for which figures are available.
The latest Growth Fund statistics are for the period from July 2006 to March 2011:
- The total number of applications received for Growth Fund loans was 472,456. From these, 405,134 loans were approved and payment made to a total value of £175,351,444.
- 76,065 loan applications were refused by contractors and 6,493 were withdrawn by customers - 17.5 per cent of applications. It should also be noted that an unspecified number of people who have no capacity to repay a loan are identified early in the reception process and do not make it into this data set because the cost of collecting the data reliably is prohibitive.
- Of the total approved loans:
- 343,182 (88 per cent) totalling £146,707,155 have been made in England;
- 26,215 (7 per cent) totalling £10,723,644 have been made in Scotland; and
- 20,501 (5 per cent) totalling £9,531,203 have been made in Wales.
Note: The breakdown figures for England, Scotland and Wales do not include 15,236 loans for £8,389,442 made by former contractors using recycled Growth Fund money.
- The overall average loan value to date is £428, which sits comfortably between the £300-£600 target bands.
- Customers who took out a Growth Fund loan between July 2006 and March 2011 and opened a bank account at the same time numbered 201,207. This figure also includes people who opened a savings account when they took out a Growth Fund loan from July 2008 1 onwards.
- Before July 2008 we did not collect figures about customers who opened a savings account at the same time as taking out a Growth Fund loan. However, based on historical data we can estimate that in total since July 2006 around 68% of customers who took out a Growth Fund loan also opened a bank or savings account at the same time.