BCRS Business Loans to back major funding at Worcester event

BCRS Business Loans will be backing the new £400m Midlands Engine Investment Fund II for small businesses.

It will be backing the fund British Business Bank roadshow event at Worcestershire County Cricket Club on Tuesday, May 14at 10am.
Launched in February, the Midlands Engine Investment Fund II covers the entire Midlands region, providing debt finance ranging from £25,000 to £2m and equity investment up to £5m.

It aims to help small and mid-sized businesses get off the ground, grow, or maintain their competitive edge.
As one of the designated fund managers for this investment programme, Wolverhampton-based BCRS Business Loans will be delivering loans transiting between £25,000 to £100,000.

In contrast, Frontier Development Capital will offer debt finance from £100,000 to £2 million, and Mercia Ventures will provide equity investment up to £5m.

The initiative follows the success of the preceding Midlands Engine Investment Fund, worth £300m, which has since its launch in 2017 assisted 739 smaller businesses.

Speaking on the development, BCRS Business Loans chief executive, Stephen Deakin, said: “This roadshow event will help attendees understand the different funding options available.

“At BCRS we are clear that no viable business should go unsupported, so we are working with partners across the region to identify businesses who can benefit from the fund.”

He further explained that Midlands Engine Investment Fund II is there to allow businesses thrive, grow, build jobs and skill opportunities, as well as making a positive contribution to the region.

It was built to drive sustainable economic growth by supporting innovation and creating local opportunities for new and growing businesses across the Midlands.

In line with the company’s initiatives, BCRS Business Loans also supports SMEs across West Midlands and Wales with secure loans ranging from £10,000 to £150,000 to support growth and recovery.

 

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