A specialist exterior wall coating company is preparing for growth thanks to funding from the Community Investment Enterprise Fund (CIEF) delivered by BCRS Business Loans.
Family business Protex XP Coatings, based in Spetchley, Worcestershire, is using £50,000 in investment secured from Wolverhampton-based BCRS Business Loans to recruit and deliver its strategy to increase turnover and profits.
The business was launched in 2013 and has grown its reputation by offering long life exterior wall coatings for properties using high-pressure sprays.
Currently providing work for five full-time employees, Protex XP Coatings has recruited one new team member and plans to bring in more as it expands to meet the growing demand for its services among business and domestic property owners.
The business also intends to use the funding to improve its marketing including its website and to buy new equipment.
Managing Director Sharon Rossiter, who works alongside husband Wes and son James Simpson-Stern, who are both company directors, said:
“The funding from BCRS Business Loans allows us to step up to the next level by investing in the people, equipment and marketing to grow and increase our turnover and profits.
“We aim to establish a second team to expand our capacity and increase the number of projects we can complete each month.
“Louise Armstrong from BCRS Business Loans was a pleasure to work with. Not only was she approachable, Louise made the whole process easy.
“There is a massive stock of older housing out there that can be protected, restored and revitalised with our specialist exterior wall coatings system, as well as the demand within the newbuild market, so we aim to invest in our staff and develop their skills. Thanks to the investment from BCRS Business Loans, we are entering a new era of growth and opportunity.”
Louise Armstrong, Senior Business Development Manager, said:
“As a community lender BCRS Business Loans which aims to support family businesses with female leaders, we were pleased to support Protex XP Coatings.
“We look forward to seeing Sharon and the directors achieve their growth plans, providing more employment opportunities and staff development.”
Funded by Lloyds and social impact investor Better Society Capital (BSC) with management by responsible finance provider Social Investment Scotland (SIS) plus funds from participating community development finance institutions BCRS Business Loans, Business Enterprise Fund and Finance for Enterprise, the £62m CIEF aims to invest in 800 small businesses nationally and support 10,500 jobs.
BCRS Business Loans delivers CIEF loans between £25,000 and £250,000 to SMEs across the Midlands and Wales who are unable to access the finance they need from traditional sources.
Alastair Davis, CEO at Social Investment Scotland, said:
“With this backing, Protex XP Coatings can grow, serve more customers and employ more staff, all of which helps the West Midlands economy and society. The CIEF plays a key role in building growth and generating opportunities in our communities by widening access to finance to support small businesses like Protex XP Coatings so we look forward to following their progress.”
BCRS Business Loans recently celebrated delivering £6.2m in CIEF loans to 75 companies in total, creating 208 jobs and protecting a further 730 roles while generating £32m in added economic value for the West Midlands and Wales. With BCRS Business Loans focussing on businesses under-represented in traditional lending, 31 per cent of the SMEs were female-led.
Since 2002, BCRS Business Loans has delivered £100 million in total lending to businesses, generating £518 million in economic impact. Up to April 2025, BCRS Business Loans supported 1,594 businesses that were unable to access traditional finance, creating over 5,900 jobs and safeguarding 11,779 existing roles.
During the 2024-25 financial year BCRS Business Loans achieved one of its best years ever for delivering funds, providing £9,900,502 to 124 businesses, a 68 per cent increase in the number of SMEs supported compared to the previous year.
In the last financial year, lending through BCRS Business Loans safeguarded 889 jobs and created 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.
BCRS Business Loans is a fund manager for the small funds pot of the first £130m Investment Fund for Wales and for the Midlands Engine Investment Fund II, which will deliver a £400m commitment of new funding for businesses across the Midlands.
