BCRS Business Loans has surpassed another funding milestone, delivering more than £4 million to West Midlands businesses through the British Business Bank’s Midlands Engine Investment Fund II.
Since the fund launched in February 2024, 67 West Midlands firms have received investment from the Midlands Engine Investment Fund II, creating 184 jobs, safeguarding a further 597 roles and generating an economic impact of £21 million.
The £400 million Midlands Engine Investment Fund II covers the entire Midlands region, providing debt finance from £25,000 to £2 million and equity investment up to £5 million to help small and medium-sized businesses start up, scale up or stay ahead. BCRS Business Loans is managing the smaller loans part of the fund (£25,000 to £100,000).
Among the businesses to benefit was Wolverhampton based metal fabrication company Midland Cold Rolled Sections (MCRS), which received £50,000 to purchase new equipment and expand its operations.
The investment enabled MCRS to buy a new cold rolling machine, allowing the business to fulfil a new contract that is expected to add 30% to its turnover and create new job opportunities.
MCRS Director Neil Plant said:
“The support from BCRS Business Loans has been instrumental to our success, both when we acquired the business in 2016 and now as we continue to grow.
“This latest investment in new machinery will allow us to meet increasing demand and expand our capabilities. We’re proud to source all our materials locally, which means our growth directly benefits other Black Country businesses and the wider regional economy.
“The new equipment will enable us to take on additional contracts and create new job opportunities for skilled workers in our community.”
BCRS Business Loans Chief Executive Stephen Deakin said:
“Reaching £4 million in loans distributed through Midlands Engine Investment Fund II represents a significant milestone in our mission to support small businesses across the region. This achievement demonstrates the real impact we’re making in helping entrepreneurs and business owners access the funding they need to grow and thrive.
“We’re proud to work alongside our network of introducers and advisers to connect businesses from diverse sectors with the finance that will help them scale up, innovate and strengthen our local economy.”
Beth Bannister, Senior Investment Manager at the British Business Bank, said:
“This is a true testament to the purpose of the Midlands Engine Investment Fund II – helping businesses secure the investments they need to grow and expand.
“Small businesses are vital to a thriving economy, and the fund is helping to improve their access to finance. It’s great to see BCRS continuing to support businesses and providing guidance where it’s needed most.”
Since 2002, BCRS Business Loans has provided more than £100 million in loans to businesses. A social impact report for the last financial year showed BCRS lent £9.9 million to 124 businesses, safeguarding 889 jobs and creating 317 roles, adding £51.2 million in value to the economy of the West Midlands and surrounding regions, and Wales.
Visit www.bcrs.org.uk to discover more or submit an initial application form.
