Businesses in Barrow’s constituency have received tens of millions of pounds through one of the Government’s main coronavirus loan schemes to help struggling firms.
Companies in Barrow’s parliamentary constituency – Barrow and Furness – had received 1,112 loans worth £29.2 million through the Bounce Back Loan Scheme by October 4, the latest government-owned British Business Bank figures show.
The loan scheme started in April and helps small and medium-sized businesses hit by the pandemic to borrow between £2,000 and £50,000, capped at 25 per cent of their turnover.
The Treasury backs the loans, which are handed out by commercial lenders, and borrowers do not have to pay fees or interest for the first year. The deadline for applications is the end of November.
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