Nearly 80,000 Scottish businesses receive Covid loans

At least 76,000 loans worth more than £2.1bn have been provided under the 'bounce back' lending scheme.

More than 79,000 businesses in Scotland have benefited from special loans designed to help them through the pandemic, according to the UK Government.

At least 76,000 loans worth more than £2.1bn have been provided under the “bounce back” lending scheme, according to the Treasury.

A further 3,300 loans worth £758m were provided under a business interruption scheme, while loans designed to help self-employed people are said to have benefited 126,000 people.

The Treasury said the retail and construction sectors have had the largest take-up of the schemes.

Chancellor Rishi Sunak said: “Our support for businesses and workers has provided a lifeline to employers up and down the country, supporting people to stay in jobs and protecting livelihoods.

“We will build on this as we move to the next stage of our recovery through the Winter Economy Plan, which will continue to protect jobs and help businesses through the months ahead.

Scottish Secretary Alistair Jack said: “The UK Government is doing all it can to stop the spread of coronavirus and to help Scotland’s economy through these turbulent times.

“Providing more than £2.9bn in loans to 79,000 Scottish businesses is a key part of this.

“We are also supporting nearly half a million people in Scotland through our job schemes and have committed a further £9bn to help employers keep workers on.”