MP welcomes business support to constituency

New statistics showing the Government support to businesses in Elmet & Rothwell have been welcomed by local MP Alec Shelbrooke.

Businesses across Elmet & Rothwell have benefitted from £86,129,701 worth of loans since the start of the coronavirus outbreak, announced the MP.

Mr Shelbrooke said: “This year has been hugely challenging for local businesses, but these latest figures demonstrate the scale of support that the Government has put in place to protect livelihoods and businesses.

Hide Ad
Hide Ad

“The amount of money provided by the Government has been unprecedented and welcome.

“As ever, there are areas where improvements would help further, for example, I am lobbying Ministers to provide more assistance to the hospitality sector, as well as lobbying Leeds City Council to provide more assistance to small businesses operated by single-owner company directors.”

He said the loans include 2,209 Bounce Back Loans – 100 per cent government-backed loans which are interest-free for the first 12 months – worth £61,684,441.

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.

Hide Ad
Hide Ad

In addition, 116 loans have been offered in Elmet & Rothwell at a value of £24,445,260 through the Coronavirus Business Interruption Scheme. This scheme has helped small and medium-sized businesses to access loans and other kinds of finance up to £5 million.

Across Yorkshire a total of 89,851 Bounce Back Loans, worth over £2 billion, and 4,232 Coronavirus Business Interruption Loans, worth £1 billion, have been provided to businesses to support businesses across all sectors.

Related topics:

Comment Guidelines

National World encourages reader discussion on our stories. User feedback, insights and back-and-forth exchanges add a rich layer of context to reporting. Please review our Community Guidelines before commenting.