North West firms have received £4.4bn funding during coronavirus crisis

Many business have had to get financial help to see them through

Businesses across the North West have received a total of over £4.4bn in funding under the government’s two largest Covid-19 loan schemes, the Coronavirus Business Interruption Loan Scheme and the Bounce Back Loan Scheme.

These provide financial support to businesses across the UK that are losing revenue, and seeing their cashflow disrupted, as a result of the Covid-19 outbreak:

More than 112,000 loans worth over £3.3bn have been offered across the North West under the Bounce Bank Loans Scheme, which provides a six-year term loan from £2,000 up to 25 per cent of a business’ turnover, with a limit of £50,000.