Justin Tomlinson MP

Justin Tomlinson MP

MP For North Swindon

Swindon businesses receive £56.5million in coronavirus loans

**• 1,163 loans worth £56.5million offered via Bounce Back Loan Scheme and Coronavirus Business Interruption Loan Scheme

• In total, more than £200billion of government support provided to help individuals and businesses in all parts of UK New figures show that businesses in Swindon have benefitted from £56.5 worth of loans to help protect and support jobs since the start of the coronavirus outbreak.**

This includes Bounce Back Loans, 100% government-backed loans are interest-free for the first 12 months. These loans ensure small firms that need vital cash injections to keep operating can get finance in a matter of days, with no repayments due during the first 12 months.

The money also includes Coronavirus Business Interruption Loans, which have helped small and medium-sized businesses to access loans and other kinds of finance up to £5million.

Chancellor Rishi Sunak announced last Friday that the government’s Job Support Scheme would be expanded to protect jobs and support businesses that are required to close their doors due to coronavirus restrictions.

Mr Sunak is also increasing cash grants to businesses in England that are required to shut in local lockdowns to assist with fixed costs – worth up to £3,000 per month.

So far, the government has provided over £200billion throughout its economic response to coronavirus to support jobs and businesses in the UK.

Mr Sunak said: “Our support for businesses and workers has provided a lifeline to employers up and down the country, supporting people to stay in jobs and protecting livelihoods.

“We will build on this as we move to the next stage of our recovery through the Winter Economy Plan, which will continue to protect jobs and help businesses through the months ahead.”

North Swindon MP Justin Tomlinson said:

“I am very proud of the work the Government has done to help businesses as they have navigated the challenged presented by Coronavirus, which has included an unprecedented £200billion package of support. I am also pleased that the Government is continuing support for businesses who are facing further disruption in areas affected by local lockdowns.”

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