Ex-West Brom chief named new chair of Black Country loan fund
THE former chief executive of West Bromwich Building Society Stephen Karle has been named as the new chairman of the Black Country Reinvestment Society Small Business Loan Fund.
Mr Karle, who succeeds Charles Hanmer, was elected to the BCRS board at its Annual General Meeting.
Mr Hanmer, of Kingswinford based Charles Design & Marketing, said “After four years at the helm, I am delighted that Stephen Karle has joined BCRS as my successor.”
He said Mr Karle was joining the society at was what a very exciting time for the organisation after it had grown from a fund lending £500,000 a year to one responsible for £3m a year.
“We have responded to the credit crunch by helping small businesses turned down by banks with loans from £10,000 to £50,000 and now have the opportunity to do more. With Stephen Karle’s knowledge of the mutual financial sector I can see us building substantially on this success. This appointment gives me great confidence for the future,” added Mr Hanmer.
In addition to his work with the mutual, Mr Karle also has experience within corporate, voluntary and regional organisations. The society said he was also a strong advocate of the benefits of principled, values-driven mutuals and industrial and provident societies.
Mr Karle said: “I am delighted to join BCRS at such an exciting stage of its development. From its roots when it was set up by the local Co-operative Development Agency in West Bromwich back in 2002, it has grown to be a significant player in the regeneration of the Black Country.
“By working closely with the banks, financial intermediaries and business support professionals, as well as local and national government, we can deliver the loan finance that smaller businesses are crying out for.
“We are pioneering a sustainable approach to small business lending based on our positive impact on communities. By backing enterprising and innovative businesses to create wealth we plan to play an important role in the areas economic regeneration by encouraging job creation and increased revenues, just what the country needs.”
Paul Kalinauckas, chief executive of BCRS said: “We are proud of our roots in the Black Country and look forward to our 10th Anniversary next year.
“Thanks to the tremendous energy and enthusiasm of Charles Hanmer we have really put the Black Country Reinvestment Society on the map. We look forward to significant growth opportunities under Stephen Karle.”
BCRS, which currently operates in the Black Country and Staffordshire also runs the Walsall, Sandwell and Staffordshire Business Loan Funds in conjunction with the various local authorities. It has plans to expand into Shropshire and create more local loan funds to meet the demand from small businesses unable to access finance from traditional sources.
