Rutland and Melton MP Alicia Kearns has welcomed new statistics showing the vast Government support to businesses in Rutland and Melton.
Rutland and Melton businesses have benefitted from £91, 298 362 worth of loans since the beginning of the pandemic. This includes 2080 Bounce Back Loans – 100% Government-backed loans that are interest free for the first 12 months – worth £60,956,566.
In addition, 133 loans have been offered in Rutland and Melton valued £30,341,797 through the Coronavirus Businesses Interruption Loan Scheme.
This scheme has helped small and medium-sized businesses to access loans and other kinds of finance up to £5 million.
Rutland and Melton MP, Alicia Kearns, said:
“2020 has been a hugely challenging year for businesses locally, but these latest figures demonstrate the scale of Government support that has been put in place to protect livelihoods and businesses in Rutland and Melton.”
“Never has the Government’s agenda to level up the whole country been so important- and I will continue to raise my voice to ensure rural areas like ours get their fair share.”
The Chancellor also announced on Friday that the government’s Job Support Scheme will be expanded to protect jobs and support businesses required to close their doors as a result of coronavirus restrictions, alongside increasing the cash grants to businesses in England required to shut in local lockdowns to support with fixed costs – worth up to £3,000 per month.
So far, the Government has provided over £200 billion throughout its economic response to coronavirus to support jobs and businesses in the UK.