Lender appoints new chief executive

The alternative business lender has announced that Stephen Deakin will step up to the role of chief executive, taking over from founding member Paul Kalinauckas who retired at the end of March.

Mr Deakin has been finance director and a member of the senior leadership team at the not-for-profit lender for the past six years and has a background in accountancy.

During his time as FD, Stephen has seen lending at BCRS increase by 122 per cent since 2014 and has been instrumental in securing over £40 million in funding to expand its support for businesses across the West Midlands that are unable to access finance from traditional lenders.

Discussing his appointment as chief executive, Mr Deakin said: “I am thrilled to be announced as chief executive at an organisation I am truly passionate about and consider myself lucky to be working alongside such a brilliant team at BCRS.

“We are starting the new financial year bolstered by a record period of lending that saw us deliver over £9 million to businesses in the West Midlands. But we are also aware of the challenging environment in which we find ourselves currently due to the coronavirus pandemic.

“As ever, we remain committed to our mission to leave no viable business unsupported, which is why we are working tirelessly to launch the Coronavirus Business Interruption Loan Scheme (CBILS) as an accredited lender through the British Business Bank.

“I relish the opportunity to lead BCRS’ continued growth with a friendly, understanding and flexible approach to providing finance to small businesses, who are vitally important to the prosperity of our economy.”

Rob Hill, chairman of the board at BCRS Business Loans, said: “The Board are delighted to confirm that Stephen is stepping up to the role of chief executive. With extensive experience and a proven commitment to our values, Stephen has demonstrated his ability to lead BCRS through its next stage of growth.

“I would also like to express our appreciation to the whole team for their continued dedication and professionalism and thank departing chief executive Paul for all he has helped BCRS achieve over the past eighteen years. We are looking forward to a very bright future for BCRS Business Loans as we increase our support for businesses across the region.”