Swindon & Wiltshire Business News

Swindon and Wiltshire businesses receive nearly £450 million in coronavirus loans

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Loans allowed Swindon and Wiltshire businesses to reopen safely

 

Businesses in Swindon and Wiltshire have benefitted from £449 million worth of loans to help protect and support jobs since the start of the coronavirus outbreak, according to new figures released by the government this week.

The tally includes over 11,100 Bounce Back Loans – 100 percent government-backed loans which are interest-free for the first 12 months – worth £313 million.

This scheme was established to 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.

In addition, 548 loans worth £136 million have been offered via the Coronavirus Business Interruption Loan Scheme (CBILS).

The scheme has helped small and medium-sized businesses to access loans and other kinds of finance up to £5 million.

In Swindon and Wiltshire, a total of 11,680 loans worth £448,545,492 have supported businesses across all sectors.

By parliamentary constituency, North Wiltshire is the biggest recipient in the county with £78 million, followed by Salisbury (£72 million), Chippenham (£64 million), South Swindon (£64 million), South West Wiltshire (£58 million), Swindon North (£56.5 million), and Devizes (£56.3 million).