Businesses operating in the Built Environment sector in the Black Country have been offered a new opportunity to secure funding.
BCRS Business Loans in conjunction with Black Country Constructing Excellence Club (BCCEC) have established a new funding stream -The Built Environment Loan Fund- for businesses needing access to finance.
Loans up to £100,000 will be made available to viable businesses already turned down by mainstream lenders such as banks.
Paul Kalinauckas, BCRS Chief Executive said: “By launching this loan fund I hope we can stimulate the development and growth opportunities within the Black Country. We want to ensure that smaller companies operating in the construction sector who need working capital to service contracts are not held back because they cannot access finance.
“This loan fund is all about providing the local business talent with the support it needs in a time of austerity. We understand that getting business finance can sometimes be a problem and here at BCRS we want to do everything we can to meet that 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, environmental and economic well-being of the area”.
The loan fund is being delivered by BCRS, a specialist not-for-profit lender, established with the needs of small and medium-sized businesses in mind and will help bridge a gap where other funding options have been exhausted.
Rachael Hobbis, Chair of Black Country Constructing Excellence Club said: “The launch of the BCRS Built Environment Loan Fund is a welcome initiative for the construction, engineering and built environment industries within both the Black Country and the wider West Midlands region. BCCEC are pleased to support this scheme and to be able to offer this opportunity to its members.
“In the current economic climate, funding continues to be a major obstacle to the trading and growth of businesses within the built environment industry. BCCEC is always looking at ways to assist the innovation and talent of its members, whether that be through promoting best practice or highlighting issues that may be of interest to businesses.
“The launch event saw significant interest in the Built Environment Loan Fund from attendees and we have no doubt that this will continue to be the case, concludes Rachael.