Andrew Gwynne, MP for Denton and Reddish, has today welcomed the news that thousands of loans have been offered to local businesses across Denton and Reddish.
Recently released data from the British Business Bank shows that the Coronavirus Business Interruption Loan Scheme (CBILS) and the Bounce Back Loan Scheme (BBLS) were utilised to offer 1,909 loans worth a total of £87,930,336 to local businesses in Denton and Reddish.
Businesses in the North West reported the largest usage of CBILs and BBLS (11%) outside of London and the South East. The data also provides analysis of loan uptake across sectors with construction (17%) and wholesale and retail (15%) receiving the highest proportion of total loans.
Speaking after receiving the data breakdown, Gwynne said:
“The last year has been so tough for local businesses, so I’m really glad to see that many businesses have been able to access support through these schemes.
Local business is the beating heart of a community, and if we want to see our high streets roaring back to life after the pandemic, we need to make sure we support them properly.
My priority now is to work with cross-party MPs to get the Government to commit to investing more in our local communities, and to implement a green economic recovery programme with local business at the heart of it.”