Campaign to support small businesses
A campaign has been launched to support small businesses across Staffordshire that are unable to access finance from traditional lenders.
The Staffordshire and Stoke-on-Trent Business Loan Fund is to deliver £2 million to businesses over the next three years – with loans from £10,000 to £50,000 available.
The fund is delivered by BCRS Business Loans, in partnership with Staffordshire County Council and Stoke-on-Trent City Council.
Staffordshire County Council's deputy leader and cabinet for economy and skills, Philip White, said: "The business loan fund supports small viable companies to access essential finance where they have struggled with commercial lenders.
“It is providing targeted support where it is needed most. We have worked successfully with BCRS for a long time and are now combining our efforts with colleagues at Stoke-on-Trent for this round of funding.
“The fund was originally set up in the aftermath of the 2008 financial crash and in 2021 we are focusing on supporting small businesses recover from the pandemic. The loan fund has enabled businesses to expand, diversify and take on new employees. It has supported companies across a range of sectors from manufacturing to professional services.
“Over the next three years we will build on this success – supporting 200 business which will contribute to our economic growth and create jobs in our communities.”
Stephen Deakin, chief executive of BCRS Business Loans, added: “We think differently about business finance and are delighted to be supporting the growth of small businesses in Staffordshire and Stoke-on-Trent with this fund.
“If you don’t tick all of the boxes with other lenders, we can help. Because we’re a non-profit organisation, we can take a human approach to business finance, so we base our decision on you and your business, not a computerised credit score.
“We have made our application process as easy as possible, with hands-on support from a dedicated Lending Manager throughout. This means that, on average, businesses receive funds in just two weeks
“So whether you require a loan for growth capital, employing new staff, purchasing stock, diversifying or much more, get in touch to secure the backing you deserve.”
Businesses can find out more and express an interest at by visiting bcrs.org.uk/apply-now.
