BCRS delivers £15m to region’s SMEs

BCRS Business Loans has passed another lending landmark by delivering £15m to businesses in the West Midlands through the Midlands Engine Investment Fund’s Small Business Loans Fund.

The regional alternative lender, which is a delivery partner for the Midlands Engine Investment Fund (MEIF), has to date provided finance to more than 1400 businesses via the fund, which is forecast to create 5505 jobs and has safeguarded 1451 more.

The Midlands Engine Investment Fund is a collaboration between the British Business Bank and ten Local Enterprise Partnerships in the West, East and South Midlands. Combining funding from LEPs, the European Regional Development Fund and the European Investment Bank, it provides more than £300m of investment to boost small business growth in the Midlands.

One of the latest businesses to secure MEIF investment from BCRS is Charisma Design & Print, based in Tyseley, Birmingham. The investment assisted the family commercial printing company with working capital and cashflow, safeguarding 13 jobs in the process.

BCRS Business Loans chief executive Stephen Deakin said: “We are delighted to have now lent £15m from the MEIF Small Business Loans Fund to businesses across the West Midlands.
“Our investment levels have been strong across all corners of the region, helping SMEs with funding for a wide range of purposes, including growth capital, expansion projects, the leasing of commercial premises and asset acquisitions.

“Small businesses are the backbone of our economy and a force for social good. Improving access to finance not only supports business growth but also strengthens the local community. We believe that no viable business should go unsupported.”