Businesses across the West Midlands have been able to generate an extra £300million in the local economy thanks to support from BCRS Business Loans.
BCRS Business Loans has been supporting local SMEs for over 15 years with a specific purpose in mind – to provide growing businesses with a much-needed additional source of finance.
Paul Kalinauckas, chief executive of BCRS Business Loans, said; “Generating an economic impact of £300million since 2002 is an incredible achievement and has been made possible thanks to the dedication of the 1,088 businesses we have supported.
“We are able to achieve this by maintaining a strong focus on the social value of our lending, so successful loan applicants will ideally be creating or safeguarding jobs.
“To date we have delivered over £33million of loans and the demand from SMEs that are struggling to access finance from traditional lenders continues to be stronger than ever.”
And recent figures suggest that the importance of BCRS’ business loan funds is set to increase exponentially in the coming months.
A Lloyds Bank Regional Purchasing Managers’ Index (PMI), released in February 2017, found that business activity increased at a faster rate in the West Midlands than any other region in England.
Commenting on the report, Paul continued; “This is very positive news for our region. Growth in the West Midlands increased to an index figure of 60.1, outperforming the average score of 55.8 across England. A score above 50 signifies growth.
“Growth can bring challenges for business owners, such as how they finance the purchase of additional equipment and stock, bigger premises, more staff, cash flow issues and much more.
“We believe in local businesses and take time to understand individual needs with a relationship-based approach to lending, rather than an impersonal credit scoring system.
“Our loans funds have been especially designed to support SMEs in the West Midlands and environs as they grow, by offering loans from £10,000 to £150,000 to companies operating in most market sectors,” concluded Paul.
To discover more about BCRS Business Loans and to submit a fast track enquiry form visit bcrs.org.uk or call us on 0345 313 8410.