BCRS Business Loans has provided a £45,000 finance package to support luxury chauffeur company Luxstar Ltd as the business plans for growth following a challenging period in late 2024.
The funding, provided through the Community Investment Enterprise Fund (CIEF), has enabled Luxstar to consolidate existing finance taken on after scaling back operations in late 2024, due to external circumstances. By restructuring its debts, the company has reduced monthly outgoings by £4,500, easing cash flow pressures and giving founder Carl Harris the breathing space to reset and refocus the business.
Carl, who founded the business in 2020 with eight years of professional driving under his belt, explains:
“Luxstar had experienced substantial growth, but challenges in late 2024 created financial pressure and left us with existing debt that needed restructuring.
“Since then, I’ve been focused on building the business by broadening our client base and reducing our reliance on one or two large contracts. Through discussions with a contact at the Development Bank of Wales, I was introduced to Niki Haggerty-James at BCRS Business Loans, who was able to help us put the right funding in place.”
Working together, Carl laid out his plans, and Niki quickly understood the heart of the business and worked to secure the finance through the CIEF.
The injection of the CIEF finance has now positioned the company to pursue renewed growth in 2026, with new contracts on the horizon and plans underway to expand its team – including recruiting additional drivers to meet increasing demand.
Carl continued:
“The support from BCRS has been pivotal, and I am incredibly grateful to Niki for the time she has taken to work with me. Reducing our monthly overheads has given me the space to take stock and rebuild with a smarter strategy – spreading risk rather than depending on a single source of income.
“This year presents a huge opportunity for the business, and we are now in a strong position to exploit new contracts, grow our client base and create jobs as we continue to build Luxstar for the long term.”
Niki Haggerty-James, Business Development Manager for BCRS Business Loans, said:
“Luxstar is a great example of a resilient small business that’s determined to thrive.
“By working with Carl to consolidate and restructure existing obligations, this CIEF investment has helped reduce financial strain and rebuild momentum.
“We’re proud to support businesses like Luxstar that are creating sustainable opportunities and jobs in their communities.”
The Community Investment Enterprise Fund (CIEF) aims to expand access to finance for businesses that may struggle to secure traditional lending, enabling them to invest, stabilise and grow. Through CIEF 11, BCRS Business Loans continues to back ambitious growth plans across Wales and the West Midlands.
Funded by Lloyds along with social impact investor Better Society Capital (BSC) and managed by responsible finance provider Social Investment Scotland (SIS) with contributions from the three participating CDFIs, BCRS Business Loans, Business Enterprise Fund and Finance for Enterprise, the £62m CIEF aims to invest in 800 small businesses nationally and support 10,500 jobs.
Since BCRS was founded as a community development financial institution in 2002, it has provided loans worth more than £100 million to businesses across the West Midlands and Wales. A social impact report for the last financial year showed BCRS lent £9.9m to 124 businesses, safeguarding 889 jobs and creating 317 roles, adding £51.2m in value to the economy of the West Midlands, surrounding regions and Wales.
