Community lending specialist BCRS Business Loans has achieved one of its best years ever for delivering funds, with almost £10 million lent to businesses across the West Midlands, surrounding areas and Wales.
BCRS Business Loans, which provides funding to small to medium sized enterprises unable to access finance from traditional sources, has provided £9,900,502 in funding to 124 businesses during the 2024-25 financial year, representing a 68% increase in the number of SMEs supported compared to the previous year.
The delivery of 50 additional loans year on year highlights the increasing demand for responsible lending among SMEs who struggle to secure funding through mainstream banking channels.
In the last financial year, lending through BCRS Business Loans has resulted in the safeguarding of 889 jobs and creation of 317 roles while adding £51.2m to the economy of the West Midlands, surrounding region and Wales. Of the funding, 34.6 per cent went to the UK’s most disadvantaged areas.
Among those to benefit from funding was vehicle lighting designer and manufacturer, Bee Lighting based in Worcestershire which received £150,000 to grow the business.
Bee Lighting Operations Director, Colin Fulford said:
“The funding is really helping us to get the business growing again. It has helped us secure at least 20 jobs and has put us in a really good position to win new business.
“Since receiving the support from BCRS we have increased our orders, and the business is going from strength to strength. We are now confident that we will be able to keep expanding.
“We have recruited three new people within the last three months and plan to create more new jobs within the next year too.
“It was simple to apply for the funding. Our business development manager at BCRS was very responsive and easy to deal with. I was surprised at how straightforward the process was.”
BCRS Business Loans chief executive Stephen Deakin said:
“We are thrilled with last year’s performance, which demonstrates our commitment to supporting businesses when they need it the most. We have been able to substantially increase our lending activity which has resulted in jobs protected, new roles created, and millions added to the regional economy.”
As a Community Development Finance Institution (CDFI), BCRS Business Loans operates as a non-profit distributing company through a story-based approach to lending, issuing loans between £10,000 and £250,000 to help grow and support recovery plans.
BCRS is an active member of Responsible Finance, the trade association for the responsible finance industry which provides finance and support to help enterprises and individuals develop and create wealth including support to disadvantaged communities.
Since BCRS Business Loans was founded in 2002, it has provided loans to businesses, with a focus on supporting entrepreneurs and businesses in economically disadvantaged areas.
The only time the lender has exceeded the latest performance was during the Covid-19 pandemic, when support funds were distributed to help businesses in the global lockdown.
BCRS Business Loans operates as a delivery partner for three investment funds launched over the last 18 months. As part of the Midlands Engine Investment Fund II (MEIF II), operated by the British Business Bank, BCRS Business Loans distributes loans ranging from £25,000 to £100,000 across the West Midlands.
Additionally, BCRS Business Loans is a delivery partner for the £62m Community Investment Enterprise Fund (CIEF). With backing from mainstream lender Lloyds, BCRS supports the delivery of the fund by providing secure loans between £25,000 and £250,000 to enable growth and recovery plans.
In Wales, BCRS Business Loans manages smaller loans through the Investment Fund for Wales (IFW), also operated by the British Business Bank, in the lender’s first expansion into the Principality. IFW offers smaller loans from £25,000 to £100,000, debt finance up to £2 million, and equity investment up to £5 million to support Welsh businesses.
