New data shows that more than 85,000 East Midlands businesses have received support via the Coronavirus Business Interruption Loan Scheme (CBILS) and the Bounce Back Loan Scheme (BBLS).
These schemes 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.
In total, businesses across the East Midlands have benefited from more than £3.3bn in funding to protect and support jobs across the region:
· More than 81,000 loans worth more than £2.3bn have been offered under the Bounce Bank Loan Scheme
· More than 4,100 loans worth over £1bn have been offered under the Coronavirus Business Interruption Loan Scheme
These loans have supported businesses across all sectors and helped to protect jobs, but the retail and construction sectors have benefited the most, demonstrating how this financial support helped those businesses that were hit hardest by the pandemic.
Find out more on the British Business Bank website.