Coronavirus Business Loan Scheme – Information about Data
As you will be aware the Coronavirus Business Loan Scheme (the “Scheme”) is a Government initiative to support businesses which have been impacted by COVID-19. The Coronavirus Business Loan Scheme is managed by a subsidiary of the British Business Bank plc (“BBB”) on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy (“BEIS”).
We are writing on behalf of the BBB and BEIS to let you know about changes to their privacy notices. In particular, these notices have been updated to clarify the ways customer data for the COVID-19 loan schemes is used and to highlight that the data will be used for data analytics; for meeting reporting obligations to the European Commission and the UK Government; and where required, certain information about loans granted under the COVID-19 loan schemes must be shared with the UK Government and the European Commission who may publish details on their respective transparency websites. Customer data is information which you provided to your lender for the purpose of obtaining your loan, as well as information about the loan.
Please see the updated BEIS Privacy Notice and BBB Privacy Notice.
The COVID-19 loan schemes were delivered quickly to support businesses to access finance to meet their immediate cashflow needs in response to the pandemic. The scale, value and importance of the schemes means it is essential to analyse the information held by BBB and BEIS in order to evaluate the take up and effectiveness of the schemes and to identify potential losses and fraud risks. The data analysis uses a subset of the loan application information such as company name, trading name, post code, and lender demand date to help identify potential fraudulent behaviour, patterns and trends. BEIS is taking the lead on the data analytics programme and will work with other government departments and law enforcement agencies where appropriate.
For further information, please see the attached note from BEIS.
Data Reporting to the European Commission and the UK Government
Like some of the UK Government’s other COVID-19 business support measures, the COVID-19 loan schemes are considered to be financial assistance from the State (also known as State aid or a subsidy). To comply with State aid rules, where required, certain information about loans granted under the COVID-19 loan schemes (including the identity of individual borrowers and the amounts borrowed under the Scheme) must be shared with the UK Government and the European Commission who may publish details on their respective transparency websites.
For further information, please see the questions and answers on the BEIS website BEIS Q&As and the BBB website BBB Q&As.
British Business Financial Services Limited, for and on behalf of the Secretary of State for Business, Energy and Industrial Strategy
[Attached Note from BEIS on Data Analytics]
DEPARTMENT FOR BUSINESS, ENERGY AND INDUSTRIAL STRATEGY (BEIS):
DISCLOSURE OF INFORMATION TO COMBAT FRAUD AGAINST THE PUBLIC SECTOR
BEIS receives personal data provided in the loan application form from your lender and the British Business Bank (BBB) for analytical and administrative purposes.
BEIS is a data controller of this personal data. Further details, including details of your data protection rights, can be found in our COVID-19 Loan privacy notice at https://www.gov.uk/government/publications/covid-19-loan-schemes-privacy-notice.
As part of BEIS’ official functions as a Government department and guarantor of the Bounce Back Loan Scheme (BBLS), the Coronavirus Business Loan Scheme (CBILS), and the Coronavirus Large Business Loan Scheme (CLBILS) (the COVID-19 Loan Schemes), it has responsibility to take action against fraud. Data analytics help us to improve our ability to identify and reduce the risk of fraud against the public sector and recover public sector funds by:
o preventing, detecting, investigating and prosecuting fraud
o bringing civil proceedings as a result of fraud
o taking administrative action in connection with fraud
Disclosure of information to combat fraud against the public sector
Section 56 of the Digital Economy Act 2017 enables public authorities to share information in order to take action in connection with fraud against a public authority.
We share loan data to match it with other government data sets. We will share your personal data where required with:
• the Cabinet Office
• the British Business Bank
• accredited lenders
• our executive agencies, including the Insolvency Service and Companies House
• other government departments including the Department for Work and Pensions and, HM Revenue and Customs
• Specified Anti-Fraud Organisations (SAFO)
• law enforcement agencies
Where BEIS has entered into information sharing under this power, it has taken steps to ensure that information sharing arrangements are balanced and proportionate and come under an appropriate level of scrutiny. This includes ensuring that such arrangements are set out in appropriate information sharing agreements.
Data analytics results will be shared with BEIS, the BBB, accredited lender(s) and other government bodies and law enforcement agencies as appropriate.
For full details of our data protection arrangements including the legal basis for processing your personal data, please see our privacy notice, which also contains details of your rights and the contact information for our Data Protection Officer. Further information is also available at the British Business Bank privacy notice webpage.