Lending from BCRS saw 40pc increase
BCRS Business Loans, one of the leading non-bank lenders in the West Midlands, has revealed that it increased its lending to local companies by more than 40 per cent in 2013.
Since being established 12 years ago, Wolverhampton-based BCRS has lent more than £16.7 million to local businesses, money that is estimated to have created or secured 2,400 jobs across the region.
The BCRS loan fund was designed to meet the needs of local businesses that are unable to get loans from traditional sources such as the banks.
Its sole purpose is to provide access to finance to enable businesses to grow and prosper by providing loans ranging from £10,000 to £100,000.
Paul Kalinauckas, BCRS' chief executive said; "According to the Bank of England, 75 per cent of commercial business finance in the United States is provided through non-bank lending.
"This is now a growing market in the UK as businesses can gain access to finance from a wide variety of sources and this includes BCRS Business Loans.
"2013 was a fantastic year for BCRS and no doubt for the SME's that we were able to help.
"We have now expanded to cover the whole of the West Midlands and plan to lend over £5 million in 2014.
"Coming out of the recession, there will be a growing demand for more working capital to service more orders.
"Some of the smaller businesses have used up all their reserves but with our help can grow and prosper."
Operating from its offices on Wolverhampton Science Park, the BCRS model is of an approachable lender that assesses each individual case on its own merits.
A BCRS loan can be used for a wide range of projects including expansion, purchasing equipment, recruitment and marketing.
BCRS lends to most market sectors including construction, engineering, IT services, manufacturing, service providers and wholesalers.
It promises a fast response to any West Midlands-based business applying for a loan, either on 0845 313 8410 or online at www.bcrs.org.uk
