Midlands-based business lender BCRS Business Loans announces that it has delivered over £30 million to local SMEs and has successfully secured accreditation from financial regulators.
BCRS Business Loans has now lent over £30 million to Midlands businesses that are unable to access finance from traditional lenders, as the not-for-profit organisation continues with its commitment to leave no viable business unsupported.
BCRS is also celebrating after receiving authorisation from the Financial Conduct Authority (FCA) to make loans to sole traders under the Consumer Credit Act.
To support the growth of local SMEs, BCRS provides business loans from £10,000 to £150,000, which can be used for a wide range of projects, including working capital, purchasing equipment, recruitment, marketing and much more.
Paul Kalinauckas, Chief Executive of BCRS Business Loans, said: “This is a magnificent achievement for us and is reflective of the increased importance of our sector in funding the growth of businesses.
“The demand for finance from BCRS Business Loans has increased exponentially in recent years, and in response we have set out plans to increase our lending to £10 million per annum within the next three years.
“As a lender of impact, it is not just the £30 million of lending that we are incredibly proud of, it is also the number of jobs that have been both created and safeguarded as a result of our belief and support, which currently stands at over 7,200 jobs.
“We believe in local businesses and appreciate how important they are to the prosperity of our local economy. We understand that getting business finance can sometimes be a problem. Lack of track record, unreasonable security arrangements, past financial problems or simply not meeting conventional credit scoring methods may be hindering the process.
“With a relationship-based approach to lending, we genuinely love helping small businesses achieve their goals,” concluded Paul.
Any Midlands based business can expect a fast response when they apply for a loan either by contacting 0345 313 8410 or by submitting an enquiry form at www.bcrs.org.uk