8 July 2021
Vara welcomes coronavirus business support figures in NW Cambs

Shailesh Vara MP has welcomed the figures showing the large number of coronavirus business support loans delivered in his constituency of North West Cambridgeshire.

The most recent data, published this week by the British Business Bank, shows the distribution of loans offered under the Coronavirus Business Interruption Loan Scheme (CBILS) and the Bounce Back Loan Scheme (BBLS). These figures show that 3,378 loans worth £138,739,594 have been offered across both CBILS and BBLS in the constituency.

The CBILS and BBLS have played a crucial part in the government’s financial support schemes, backing businesses which have faced hardship during the pandemic. The schemes have enabled businesses across the UK to access the financial provision required when faced with losing revenue and seeing cashflow disrupted, due to the unprecedented interruption the pandemic brought.

Following publication of the data, Mr Vara commented:

“These figures show the reach and substance of the Government backed financial schemes and I am very pleased that so many businesses in my constituency sought the help on offer. The financial support provided has been a key part in the country’s fight against coronavirus and now, as we consider further lifting of restrictions, I look forward to businesses in our community start on the road to recovery.”

The email sent to Mr Vara by the British Business Bank highlighting the figures is attached here.