Shepton Mallet Chamber of Commerce has urged small businesses in the town to keep applying for help from the government that they think they are entitled to.

The Chancellor Rishi Sunak today (Friday April 3) took further action to support firms affected by the coronavirus crisis by bolstering business interruption loans for small businesses.

More than £90 million of loans to nearly 1,000 small and medium sized firms have been approved under the government's Coronavirus Business Interruption Loan Scheme (CBILS) since its launch last week.

To increase the support available, the Chancellor is extending the CBILS so that all viable small businesses affected by coronavirus, and not just those unable to secure regular commercial financing, will now be eligible should they need finance to keep operating during this difficult time.

And chairman of the Shepton Chamber, Alan Stone, urged small businesses in the town to be persistent in their attempts to access government help.

He said: "I think the message from the Shepton Mallet Chamber of Commerce for all small businesses in the Shepton Mallet area has to be - keep on trying to get help you think you are entitled to.

"I think it was nearly three weeks ago the business rate relief grant was announced - we are meant to be hearing from Mendip District Council soon - they said early April.

"Next scheme, the direct support and furlough of up to 80 per cent of income seems generous - but is it coming through?

"I heard it will not arrive until June. And that is only for those who qualify. I am afraid the transitory nature for many self employed rules it out for many.

"I am sure I don't qualify because I mixed self employment with working for others - and there appears to be nothing for zero hours contract workers.

"The new business interruption loan appears a good idea - though there seems to be no clarity on when it needs repaying or how much it will cost you after the first year.

"Still as many of us can do little work at the moment - we all ought to explore what we can get. We all need to both live our lives and save our businesses."

The Federation of Small Businesses has backed the new business interruption loans, and national chairman Mike Cherry said: "Time and again we've heard from members who've approached their bank seeking an emergency loan, only to be offered anything but.

"Many small businesses have just had to pay monthly wages and national insurance bills. They also have many other outgoings that they need to pay, today.

"They were promised interest-free, fee-free, government-backed support from banks but, so far, the process for securing it has proved nightmarish for many.

"Removing the need to be offered standard products first – with an interruption loan as an afterthought – marks a big step forward.

"So too would be ensuring small businesses can qualify for an emergency loan application on the basis of one simple criterion - whether or not you've been negatively impacted by the spread of coronavirus is the only question that counts at this juncture."