Lender hits £50m milestone
Alternative lender BCRS Business Loans has hit a key milestone in its growth, after it passed £50 million of lending since it was launched in 2002.
The lender has supported about 1,450 small and medium sized businesses across the region, providing money for viable businesses that are unable to access finance from traditional sources, such as banks.
BCRS chief executive Paul Kalinauckas said: “We have always been committed to supporting the growth and prosperity of businesses in the West Midlands and surrounding areas. SMEs are the backbone of our economy – contributing to the prosperity of our region and providing jobs for local people.
“In fact, by lending £50 million, we have generated an extra £263 million of value in the West Midlands economy and helped to create or safeguard almost 10,000 jobs, which is something we are incredibly proud of.
“What’s really exciting is that this is just the start for BCRS Business Loans. Our team has now grown to 20 and we aim to extend our support for SMEs by increasing our lending by 25 per cent per annum over the next five years.
“We believe that no viable business should go unsupported. As traditional lenders continue to tighten their lending criteria, having a friendly, affordable alternative such as BCRS Business Loans is incredibly important and customers appreciate our relationship-based approach to lending, our fast loan process and the perk of no early repayment fees.”
BCRS Business Loans offer loans from £10,000 to £150,000 to organisations in the West Midlands and immediate surrounding areas.
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