MORE than £200m of loans has been allocated to struggling businesses in Southampton throughout the pandemic.

Businesses say they have been experiencing disruptions in cashflow and loss of revenue because of the affects of Covid-19.

Through loans such as the Coronavirus Business Interruption Loan Scheme and the Bounce Back Loan Scheme the city's small businesses have been supported financially.

More than £200m has been issued out to small businesses across the three Southampton constituencies according to new data.

In Southampton, Itchen constituency, 1,790 loans have been dished out, worth over £62m.

Royston Smith, MP for the constituency said: “It is encouraging to see that business in Southampton have benefitted from tens of millions of pounds of financial support from the Government.

"The Government has offered a lifeline to thousands of businesses, individuals and charities in Southampton to help them through these difficult months.

"Significant support is continuing through the winter which includes the Job Support Scheme and the Jobs Retention Bonus to help employers keep people in work."

Businesses in the Southampton, Test constituency have also received funding of over £66m, whilst Romsey, Southampton North businesses have recieved over £72m.

Data shows that Eastleigh constituency has received the most though, with 2,119 of these loans handed out in the area at a worth of over £80m.

Paul Holmes, MP for Eastleigh said: “Through a combination of grants and other financial assistance, businesses in Eastleigh have received over £100m since the start of the pandemic directly into their bank accounts.

"Over 2,000 businesses locally have been able to access these schemes and this is positive because it means they can continue to operate, continue to employ people and keep our economy moving.

"This is essential as we recover from the effects of this virus."

Both of loan schemes are organised through the British Business Bank and lent in conjunction with High Street Banks.