BCRS Business Loans is gearing up to increase its lending to businesses across the West Midlands by over 30%
The BCRS loan fund, designed to meet the needs of businesses that are unable to get loans from traditional sources such as the banks, has announced that over the last 12 months it lent £4.5million.
Established 13 years ago, BCRS has issued loans of over £21.2 million to local businesses and created or secured over 3800 jobs across the West Midlands. The not for profit lender provides access to finance to enable businesses to grow and prosper by providing loans ranging from £10,000 to £150,000.
Paul Kalinauckas, BCRS Chief Executive said; “2014 was a fantastic year for BCRS and no doubt for the SME’s that we were able to help. We have witnessed an ever growing demand for access to finance and BCRS is all about providing the SME business talent with the support it needs.
“We now plan to lend over £6 million in 2015, which will be a further 30% growth, as we continue to demonstrate our commitment to business growth and the non-bank lending market as a whole.”
The BCRS model is of an approachable lender that assesses each individual case on its own merits. We operate very much with a traditional lending ethos rather than impersonal computerised credit scoring and our Business Development Managers will go out and visit businesses to learn more about them and how we can help.
We understand that getting business finance can sometimes be a problem and we want to do everything we can to meet the demand for loans. Not only does it mean that a business can flourish with our help but also create jobs and contribute to the social and economic well-being of the area.
BCRS have had a powerful impact on the economy of our region. Central to our role as a loan provider is the local impact as a result of our invested capital. In 2014 we generated an extra £60 million into the West Midlands economy through the impact of business loans to SME’s by creating over 400 jobs and safeguarding over 1,000”*, concludes Paul.
A BCRS loan can be used for a wide range of projects including expansion, purchasing equipment, recruitment and marketing. BCRS lend to most market sectors including construction, engineering, IT services, manufacturing, service providers and wholesalers.
Any West Midlands based business can expect a fast response when they apply for a loan either by contacting 0845 313 8410 or filling out an enquiry form on our website.
*based on BIS (2013) Economic Evaluation of the Enterprise Finance Guarantee scheme, Table 28, annual average based on quoted average net additional gross value added per business.
