West Midlands funders join forces for new investment programme

BCRS Business Loans has announced a new investment programme that will be delivered through peer to peer lender ThinCats.
 
Wolverhampton Science Park-based BCRS – Black Country Reinvestment Society – provides loans to SMEs where mainstream lenders have been unable to help. It plans to expand its reach by investing through Tamworth-based ThinCats. 
 
To date ThinCats has facilitated £91.9m worth of secured loans, over £8m of which have been made to businesses in the Midlands.

BCRS have also made a considerable contribution to SME growth and in January 2015 reached the £21.5m mark in loans made to West-Midlands-based businesses.
 
Kevin Caley, CEO of ThinCats, said: “We are delighted to be helping BCRS invest in businesses across the Midlands. They have a great tradition of helping companies grow who perhaps, like many, have been crippled by poor bank lending and a stifled economy. 

“BCRS’ investment is recognition that ThinCats have extensive reach into the SME funding pool and can help investors reach it.”
 
Paul Kalinauckas, BCRS chief executive, said: “Investing through ThinCats means that we can reach so many more businesses. 2014 was a great year but to grow we needed a trusted partner to extend our reach.
 
“The values that ThinCats uphold are very similar to our own and their reach is extensive.”
 
Coleshill recruitment firm Crimson is the first West-Midlands company to receive a loan from BCRS through the ThinCats platform.