MP welcomes support for town’s businesses

MP welcomes support for town’s businesses

by Danielle Thompson (October 2020)

NEW figures showing the level of government support to businesses in Southport have been welcomed by the town’s MP Damien Moore.

Businesses across Southport have benefitted from £70,006,808 worth of loans since the start of the coronavirus outbreak. This includes 1,186 Bounce Back Loans – 100 per cent government-backed loans which are interest-free for the first 12 months – worth £50,723,787. 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, 68 loans have been offered in Southport at a value of £19,283,021 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.

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

“Never before has the agenda to level up the whole county been so important – and we will continue to focus on supporting hardworking families across Southport.

“Businesses in Southport have contacted me about the various support schemes provided by the government and my office has supported many individuals in accessing the support they need.”

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