Community lending specialists, BCRS Business Loans has extended its support for businesses by increasing its upper loan limit to £250,000.

BCRS Business Loans works with SMEs across the West Midlands and Wales who are unable to access finance from traditional sources has increased its maximum lending limit from £150,000 to £250,000.

Businesses will now be able to access finance from between £10,000 and £250,000 to help grow and support recovery plans.

BCRS Business Loans Chief Executive Stephen Deakin commented: “We are delighted to be able to increase our upper loan limit to £250,000.

“At BCRS we are clear that no viable business should go unsupported and the increase in the lending limit shows our dedication to helping businesses achieve their goals and prosper.

“The additional financial support now available will allow more businesses across the West Midlands and Wales benefit from finance from BCRS and we are proud to continue to make a positive impact in the communities in which we operate.”

Since BCRS Business Loans was set up in 2002, it has provided loans worth more than £85m to businesses. A social impact report for the last financial year showed BCRS lent £5.8m to 72 businesses, safeguarding 675 jobs and creating 186 roles, adding £29.9m in value to the economy of the West Midlands and surrounding regions, and Wales.