£61.7m Bounce Back Loans Welcomed by Local MP

  • Andrew Selous MP welcomes latest figures showing support for businesses in South West Bedfordshire

2,109 Bounce Back Loans worth £61,698,326 have been offered under the Bounce Back Loans Scheme in South West Bedfordshire

Also in South West Bedfordshire, 88 loans worth £21,171,666 have been offered under the Coronavirus Business Interruption Loan Scheme

In total, more than £200 billion of Government support has been provided to help individuals and businesses in all parts of the UK

New statistics showing the huge Government support to businesses in South West Bedfordshire have been welcomed by local MP Andrew Selous.

Businesses across South West Bedfordshire have benefitted from £82,869,992 worth of loans since the start of the coronavirus outbreak. This includes 2,109 Bounce Back Loans – 100 per cent government-backed loans which are interest-free for the first 12 months – worth £61,698,326. The scheme ensures that small firms who need vital cash injections to keep operating can get finance in a matter of days, with no repayments due during the first 12 months.

In addition, 88 loans have been offered in South West Bedfordshire at a value of £21,171,666 through the Coronavirus Business Interruption Scheme. This scheme has helped small and medium-sized businesses to access loans and other kinds of finance up to £5 million.

Commenting, Andrew Selous MP said, “This year has been hugely challenging for businesses in South West Bedfordshire, but these latest figures demonstrate the scale of support that the Government has put in place to protect livelihoods and businesses.

"Never has the Government’s agenda to level up the whole country been so important – and we will continue to focus on supporting hardworking families across South West Bedfordshire.”



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