In February 2013 the Black Country Constructing Excellence Club helped BCRS Business Loans launch their Built Environment Loan Fund which can provide loans of up to £100,000 to SME construction related companies to meet short term business needs. Since the launch 20companies have used the fund to secure finance for their operations.
A recent example is Black Country Constructing Excellence Club member W Barratt Contractors Ltd who has secured funding for employee and materials resources to deliver new orders for a new customer. From initial meeting to close of the loan deal was less than 2 weeks and much less painful than owner Wayne Barratt’s previous experience of trying to secure funding from more traditional banking sources.
Wayne said; “I had looked around for funding for months without success but then a Club member reminded me about the BCRS fund. I contacted them and from there it was plain sailing and they couldn’t have been more helpful” and added “I wish I had started my search with BCRS and saved myself a lot of trouble. I would thoroughly recommend other construction SMEs speak to BCRS”
BCRS Business Development Manager Tony Wood who dealt with Wayne’s application said; “W Barratt Contractors Ltd is typical of many companies that BCRS support. They have an excellent, tried and tested product, a viable business plan, established client base and a pedigree in their sector.
“We understand that banks aren’t always able to help businesses with finance requirements, even when they have growth potential like W Barratt Contractors Ltd. We’re not here to replace banks, but we’re not governed by the same criteria – so it’s important that people like Wayne who’ve been turned down by their bank, know that we are a viable alternative they can talk to
Tony and his colleague Lakhbir Singh are often to be found at the Black Country Constructing Excellence Club’s monthly meetings or if you are an SME looking for a loan of up to £100,000 for your business you can contact them on 0845 313 8410 for a confidential and helpful discussion.
