MORE than £1billion has gone to Hampshire businesses under the government’s two largest Covid loan schemes.

A total of 27,360 businesses in the county have received £1.04bn in offers of coronavirus business interruption loans (CBILS) and business bounce back loans (BBLS).

The BBL scheme provides a six-year loan of up to 25 per cent of a business’s turnover, up to £50,000.

The CBILS scheme offers business loans, overdrafts, invoice finance and asset finance of up to £5million to businesses with a turnover less than £45m.

In the Southampton Test parliamentary seat, 1,548 businesses were awarded a total of £56.06m, while in Southampton Itchen, 1,493 firms were awarded £53.42m. There were 1,468 businesses in Romsey and Southampton North awarded £57.68m

In Winchester, 1,583 businesses were awarded £65.58m,and in Eastleigh 1,758 received £62.31m.

In Fareham, £67.61m went to 1,626 firms and in Gosport £38.86m to 1,034.

In New Forest West, 1,614 businesses were awarded £71.25m and in New Forest East, 1,286 were awarded £53.14m.

In Portsmouth North, £62.53m was awarded to 1,746 businesses in Portsmouth South, £46.85m went to 1,443 firms and in Havant, £41.5m went to 1,240.

In Aldershot, £58.23m went to 1,533 firms, in Basingstoke £48.85m to 1,302, in East Hants £64.85m to 1,706, in Meon Valley £81.14m to 2,096.

In North East Hampshire, 1,510 businesses were awarded £56.47m and in North West Hampshire, 1,374 were awarded £61.42m.

Across the South East, 210,000 businesses have received more than £8.86bn. The figures included nearly 200,000 loans worth more than £6bn under the BBL scheme and more than 11,000 worth more than £2.8bn under CBILS.

Catherine Lewis La Torre, chief executive of the government’s British Business Bank – which operates the loan schemes via accredited lenders – said: “Reducing regional imbalances in access to finance for smaller businesses is a key objective of the British Business Bank.

“Looking towards economic recovery, we’re pleased to see the coronavirus loan schemes continuing to support smaller businesses in the South East in accessing the finance they need to help them keep trading and to support their future growth plans.”

Business secretary Kwasi Kwarteng said: “These figures show very clearly that we have delivered on the solemn promise we made to support businesses across every part of the UK.

“While there are still tough times ahead, we will continue to offer all the support we can to protect jobs and keep businesses afloat so we can look to not only restart our economy, but build back better from the pandemic.”