BCRS Business Loans is celebrating a “phenomenal” year as its support for small businesses in the West Midlands surged with a thirty-eight per cent growth in lending.
BCRS lent a massive £7.2 million in the last financial year as part of its aim ‘to leave no viable business unsupported.’
Confirmed as its best-ever year of lending, the not-for-profit lender was able to support the growth of 153 businesses that wouldn’t otherwise have been able access finance from traditional sources.
Paul Kalinauckas, Chief Executive of BCRS Business Loans, said: “Lending £7.2 million is a massive achievement for us and one that we are incredibly proud of. We have smashed through our original target of increasing our lending by 25%. This is testament to the hard work and dedication from the whole team, who are committed to supporting small businesses with their funding needs.
“It is the socio-economic impact of our lending that really motivates us on a daily basis and the knowledge that businesses are able to achieve their goals and grow. Our lending has helped create an additional 411 jobs and safeguard almost 500 jobs this year, which has provided a significant boost to the West Midlands economy,” said Paul.
BCRS Business Loans is the largest responsible finance provider in the West Midlands and, along with being a delivery partner for the Midlands Engine Investment Fund, recently secured an additional £15 million for lending through the Community Investment Enterprise Facility.
Paul added: “We want small businesses to know that we believe in them. We understand that they are looking for a fast, personal, relationship-based approach to lending with the added benefit of no early repayment fees. We offer loans from £10,000 to £150,000 to business who are struggling to secure some or all of the finance they need from traditional lenders.
“The hard work doesn’t stop here. With an excellent team in place and continued demand from SMEs, we are planning to increase our lending by 25 per cent this next financial year as well.”