BUSINESSES in Somerset have received £652milllion worth of loans since the start of the coronavirus crisis.

New figures reveal that Wells has the most funding with £84million, followed by Taunton Deane with £82million, Somerton and Frome with £81million and North Somerset with £76million.

These loans include both Bounce Back Loans (interest free for the first 12 months) and loans from the Coronavirus Business Interruption Loan Scheme (CBLIS).

Chancellor Rishi Sunak announced last Friday that the government’s Job Support Scheme would be expanded to protect jobs and support businesses that are required to close their doors due to coronavirus restrictions.

Mr Sunak is also increasing cash grants to businesses in England that are required to shut in local lockdowns to assist with fixed costs – worth up to £3,000 per month.

This was announced after the new coronavirus tier system was put in place.

READ MORE: Everything you need to know about the new three tier system

So far, the government has provided over £200billion throughout its economic response to coronavirus to support jobs and businesses in the UK.

Mr 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.”