Gordon businesses benefit from coronavirus loans support

New figures have shown businesses across Gordon have benefitted from almost £60 million worth of UK Government loans since the start of the coronavirus outbreak.

The Scottish Conservative candidate for the area in next year's Holyrood election, Stewart Whyte, has welcomed the statistics showing the extent of UK Government support for businesses in the constituency.

Help in the area includes 1255 Bounce Back Loans – 100 per cent government-backed loans which are interest-free for the first 12 months – worth £36.8 million.

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, 85 loans have been offered in Gordon at a value of £23m through the Coronavirus Business Interruption Scheme.

This has helped small and medium-sized businesses to access loans and other kinds of finance up to £5 million.

Mr Whyte said: “Businesses across Aberdeenshire have been supported by the UK Government through difficult times, spending an additional £16 billion to shore Scotland up.

“It is now time for the SNP to take action to help companies survive the current crisis and involve businesses in decisions about new coronavirus restrictions."

According to the Scottish Fiscal Commission, the UK Government have spent an extra £16 billion in Scotland regarding policy measures in response to Covid-19.

The Chancellor also announced that the government’s Job Support Scheme will be expanded to protect jobs and support businesses required to close their doors as a result of coronavirus restrictions.

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