Small business insurance holders in the UK have taken advantage of more than half a billion pounds of government-backed loans since the start of the recession, it has been revealed.
Over £580 million in loans has been drawn down by more than 5,840 businesses under the Enterprise Finance Guarantee, according to the Department for Business, Innovation and Skills (DBIS).
Loans of around £720 million have been offered to businesses in total.
Trade, investment and small business minister Lord Davies commented that the results show the government is providing real help to small business insurance holders.
He added: "The Enterprise Finance Guarantee has been welcomed by business and, following its recent extension, it will continue to play a vital role in encouraging enterprise and investment and driving productivity and growth throughout the UK economy."
Earlier this month, the DBIS announced that business insurance holders are saving almost £3 billion a year due to a government programme which aims to get rid of unnecessary paperwork.
