Over £5 Million Lent to West Midlands SMEs

 

BCRS Business Loans, one of the leading non-bank lenders in the West Midlands, continues to grow at a rapid pace as it announced that over £5 million worth of lending has already been delivered to West Midlands based businesses this year.

Established in 2002, BCRS was specifically formed to bridge the growing lending gap that many small to medium sized businesses face when sourcing finance. Through its specially designed business loan funds, the not-for-profit lender provides viable SMEs with access to finance, with loans ranging from £10,000 to £150,000.

This is the first time that BCRS Business Loans has lent over £5 million in a year, only ten months into 2015, backing 155 West Midlands based businesses. Demand for finance from SME’s turned down by the banks continues to increase so BCRS hopes to break the £6 million mark by the end of the year.

Paul Kalinauckas, Chief Executive at BCRS Business Loans, stressed the continuing difficulties of the local business community in finding finance. “The problems for smaller businesses exacerbated by the credit crunch have not gone away,” he said, “Small business owners are having to spend too much time chasing finance, which distracts them from building their businesses. We believe in small businesses and realise the positive economic and social impacts they have on the local economy.

“It is the importance of creating jobs and contributing to the social and economic well-being of the area that is so important to us here in the West Midlands. In 2014, by lending £4.5 million BCRS were able to create 400 jobs, safeguard 1,000 and generate an extra £60 million* in the West Midlands economy.

The BCRS model is of an approachable lender that assesses each individual case on its own merits and operates with a traditional, relationship-based lending ethos rather than impersonal computerised credit scoring. The BCRS Business Development & Lending Managers will go out and visit a business to learn more about them, ascertain how BCRS can help and develop a loan application.

“At BCRS we believe that no viable business should be unsupported. We have the knowledge, support and professionalism to tailor our loans to the specific needs of each business and we look forward to working with many more in the future”, 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

 

 

 

*based on BIS (2013) Economic Evaluation of the Enterprise Finance Guarantee scheme, Table 28, annual average based on quoted average net additional gross value added per business.

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