BCRS Business Loans

Business lender allocated £4m under EFG programme

BCRS Business Loans has been accredited to lend up to £4m under a government-backed programme.

The Enterprise Finance Guarantee (EFG) programme – managed by the British Business Bank on behalf of the government – has increased BCRS’s lending allocation two-fold.

The programme facilitates lending to SMEs through partners such as BCRS to provide funding to businesses which are unable to obtain finance from their lender due to having insufficient security.

BCRS has already delivered £4m to 114 businesses located in the West Midlands under the programme since 2012.

“Not only have we secured another healthy allocation under the EFG scheme – demonstrating that we are a trusted partner of the British Business Bank – but it has been doubled year-on-year,” said Stephen Deakin, finance director at BCRS Business Loans.

“As a result of this increased allocation, we are able to lend up to £75,000 at a time using EFG.”

BCRS provides loans ranging from £10,000 to £150,000 and services SMEs operating in most market sectors, including construction, engineering, IT, manufacturing and retail.

“We are delighted with this news, as it will enable us to continue to support the growth of local businesses,” added Stephen.

“We can use the EFG programme to help businesses that wouldn’t otherwise be able to access the finance they need to grow.

“All of this will provide a significant boost to the local economy.”

Paul Kalinauckas, chief executive of BCRS Business Loans, added: “Small businesses are at the heart of what we do and, ultimately, we believe in what they do.

“We understand that getting finance can sometimes be a problem – for a variety of reasons – but we want to reassure local business that, for us, no viable business should go unsupported.”

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