BCRS Business Loans has passed another milestone by supporting more than 250 businesses in the West Midlands through the Midlands Engine Investment Fund’s Small Business Loans Fund.
BCRS, which specialises in funding for businesses that struggle to access finance from traditional lenders, has lent over £16m to 267 companies through the MEIF, a collaboration between the British Business Bank and 10 local enterprise partnerships in the West, East and South Midlands. The lending has led to 2,681 jobs being safeguarded, with a further 1,035 roles created.
Funding was required to help the family-owned firm step up production of its manufactured trailer range to boost profit margins and increase its presence in both European and US markets. On the back of the loan, managing director Tim Hughes reported that order books were “rapidly filling”, while new staff had been taken on to support the growth.
“Working across a broad range of sectors, our investment levels have been strong throughout the region, helping SMEs secure backing for growth capital.
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