A total of 1,260 Bounce Back Loans worth £35,083,591 have been offered under the Bounce Back Loans Scheme in Ashfield.
These are 100 per cent government-backed loans which are interest free for the first 12 months.
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, 74 loans worth £24,475,762 have been offered under the Coronavirus Business Interruption Loan Scheme.
Businesses across the constituency have benefitted from a massive £59,559,353 worth of loans since the start of the coronavirus outbreak
The Chancellor of the Exchequer, Rishi Sunak, also announced on 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.
Lee Anderson, MP for Ashfield, said: “This year has been hugely challenging for businesses in Ashfield and Eastwood, but these latest figures demonstrate the scale of support that the Conservative Government has put in place to protect livelihoods and businesses.
"Never has the Conservatives’ agenda to level up the whole county been so important, and we will continue to focus on supporting hardworking families”.
Chancellor of the Exchequer, Rishi 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.”