BCRS Business Loans Limited was established by the local Co-operative Development Agency as the Black Country Reinvestment Society on 26 April 2002 and registered with the then Financial Services Authority as an Industrial and Provident Society, Register Number 29393R. It is now a Registered Society under the Co-operative and Community Benefit Societies Act 2014 and renamed BCRS Business Loans Limited.
It was established as one of a number of new Community Development Finance Institutions (CDFIs) across the country as a result of a government policy initiative – now known as Responsible Finance Providers.
Initially established as a social enterprise lender covering predominantly the Black Country sub region of the West Midlands, BCRS soon expanded its offer to include micro-enterprises and subsequently small and medium sized enterprises (SMEs) across the West Midlands.
In its early years, BCRS saw modest growth based around the provision of loans to small businesses, social enterprises and other organisations in the Black Country unable to access finance from traditional sources such as banks.
This was just the beginning…