A West Midlands based alternative business lender has started the new year on a high after surpassing a new delivery milestone.
BCRS Business Loans has announced that it has now delivered over £75 million to businesses across the West Midlands region.
Established for over 19 years and a delivery partner for the Midlands Engine Investment Fund (MEIF), the lender delivers loans to businesses that don’t tick all of the boxes required by traditional lenders.
This milestone comes on the back of record-breaking lending last year, in which £13.3 million was delivered during the pandemic via the now-closed Coronavirus Business Interruption Loan Scheme (CBILS).
Stephen Deakin, Chief Executive at BCRS Business Loans, said:
“We are delighted to have achieved this lending milestone, which has not only provided a brilliant start to 2022 but also demonstrates our commitment to supporting the growth of SMEs when other lenders can’t help.
“As a non-profit organisation, we take a human approach to lending, offering a relationship-based model where we base our decision on the business itself rather than computerised credit scores.
“But our lending milestone alone doesn’t paint the full picture. As a lender dedicated to social and economic impact, we are proud that, by lending £75 million, over 4,700 new jobs have been created and 9,000 jobs have been protected in the West Midlands.
“We are committed to supporting businesses as they grow and recover following the pandemic and are proud to be a delivery partner for the government’s Recovery Loan Scheme (RLS).
“We believe that no viable business should go unsupported, so please do get in touch if you are looking for growth funding.”
“We offer loans from £10,000 to £150,000 for businesses based in the West Midlands. Most business sectors are eligible, and loans can support a wide variety of purposes.”