IDEAS home Printed from https://ideas.repec.org/a/taf/regstd/v57y2023i11p2323-2338.html

COVID-19 lending support and regional levelling up: evidence from UK loan guarantee schemes

Author

Listed:
  • Marc Cowling
  • Paul Nightingale
  • Nick Wilson

Abstract

The economic consequences of COVID-19 were severe with restricted economic activity generating a liquidity crisis for many firms. To address the systemic impact of this liquidity shock, governments around the world rapidly introduced a range of loan guarantee schemes. In the UK, more than 1 million businesses accessed these schemes. Using a novel, comprehensive dataset, this paper explores the regional distribution of access to these schemes and how this was mediated by regional differences in lending institution. Our results show that while the schemes were national and unaligned with regional policy, access favoured firms in poorer regions, and regional differences in lending institutions had a significant influence on the nature of lending.

Suggested Citation

  • Marc Cowling & Paul Nightingale & Nick Wilson, 2023. "COVID-19 lending support and regional levelling up: evidence from UK loan guarantee schemes," Regional Studies, Taylor & Francis Journals, vol. 57(11), pages 2323-2338, November.
    • Handle: RePEc:taf:regstd:v:57:y:2023:i:11:p:2323-2338
    DOI: 10.1080/00343404.2022.2159021
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/00343404.2022.2159021
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/00343404.2022.2159021?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Marc Cowling & Ross Brown & Huan Yang, 2026. "Traversing the multiple nested geographies of NUTs based entrepreneurial ecosystems," The Journal of Technology Transfer, Springer, vol. 51(1), pages 98-124, February.
    2. Jabir Ali & Fariya Akbar Ansari, 2025. "Understanding Firm’s Decision towards Workforce Layoffs during COVID-19 Outbreak in India," The Indian Journal of Labour Economics, Springer;The Indian Society of Labour Economics (ISLE), vol. 68(4), pages 1259-1278, December.
    3. Shabnam Kazembalaghi & Jerry Coakley & José M. Liñares-Zegarra & Silvio Vismara, 2025. "Digital equity and government support during COVID-19," Small Business Economics, Springer, vol. 64(4), pages 1679-1705, April.
    4. Cowling, Marc & Yang, Huan, 2024. "Do loan interest rate margins and loan fees move in the same direction and are they jointly determined?," Finance Research Letters, Elsevier, vol. 60(C).
    5. Md. Nazmus Sakib & Md. Mahbubur Rahman, 2024. "Mitigating the Impact of COVID-19 on SMEs Through Government Policy Intervention: A Systematic Literature Review and Bibliometric Analysis," Future Business Journal, Springer, vol. 10(1), pages 1-11, December.
    6. Marek Kacer & Nicholas Wilson & Sana Zouari & Marc Cowling, 2025. "Entrepreneurial finance and the survival of equity-funded firms in crisis periods: the case of COVID-19," Small Business Economics, Springer, vol. 65(2), pages 837-870, August.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:regstd:v:57:y:2023:i:11:p:2323-2338. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/CRES20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.