A business loans specialist that lent over £6.5 million to West Midlands businesses in 2015 has changed its name to BCRS Business Loans Limited.
Although many will already know that BCRS Business Loans has been the lender’s trading name for the last few years, it is only now that the official registered name of Black Country Reinvestment Society has been dropped in favour of BCRS Business Loans Limited, as confirmed by the Financial Conduct Authority.
Paul Kalinauckas, Chief Executive at BCRS Business Loans, said, “This name alteration is a natural evolutionary step in the growth of our organisation, which has established itself as a respected and personable lender.
Continued demand for non-bank business lending has seen BCRS Business Loans expand its geographical coverage far beyond the Black Country, to reach all corners of the West Midlands and environs. Aside from Black Country and Birmingham businesses, BCRS has extended its support to include businesses in Staffordshire, Stoke On Trent, Shropshire, Warwickshire, Worcestershire, Gloucestershire, Herefordshire and Oxfordshire; who are all eligible for financial support when mainstream lenders are unable to help.”
BCRS Business Loans provide loans ranging from £10,000 to £150,000 to support the growth and prosperity of viable local businesses across the West Midlands. Offering a relationship-based approach to lending, BCRS issue loans to most sectors, including construction, engineering, manufacturing, the service industry, retail, wholesale and many more.
Aside from lending over £27.8m since it started and supporting over 960 businesses, the organisation has also made a significant contribution to the local economy. According to recent figures, the not-for-profit lender, which is run on a co-operative ethos, has been able to create over 2,500 jobs and safeguard over 4,381.
“Although Black Country businesses still accounted for 36% of our lending in 2015, it is also clear that over 64% of our lending was distributed to other areas of the West Midlands. These figures demonstrate the importance of this name change, to make it clear that we are a champion for businesses across the whole of the region.
And with six Business Development Managers on the ground covering specific geographic patches, we are able to fulfil these lending needs in ways few others can”, concluded Paul.
Any West Midlands based business can expect a fast response when they apply for a loan either by contacting 0845 313 8410 or by submitting an enquiry form at www.bcrs.org.uk.