BCRS Business Loans has passed a significant milestone by lending more than £2 million to small and medium-sized enterprises (SMEs) across Wales. The lender manages the smaller loans portion of the British Business Bank's £130 million Investment Fund for Wales.
Fund Delivers Jobs and Economic Growth
Since the fund's launch in late 2023, BCRS has supported 34 businesses with loans ranging from £25,000 to £100,000. This finance has directly led to the creation of 104 new jobs and the protection of a further 189 existing roles. The total economic value generated across Wales is estimated at over £10.26 million.
Stephen Deakin, chief executive of BCRS Business Loans, said the organisation was proud to surpass the £2 million mark in under two years. "Every business we support demonstrates the impact the fund is having on SMEs across Wales," he stated.
Supporting Diverse Business Ambitions
The fund has shown a strong commitment to diversity and inclusion. Of the businesses assisted, 26% were female-led, while 15% were focused on firms under-represented in traditional lending markets.
One beneficiary is Mold-based tech company, The Installation Exchange. Founder Lee Stephens secured a £25,000 package to accelerate software development and expand into international markets. "This finance has already allowed us to engage with a major client overseas," Mr Stephens explained.
A Collaborative Funding Ecosystem
The Investment Fund for Wales offers a range of finance options, with loans from £25,000 to £2 million and equity investments up to £5 million. While BCRS manages the smaller debt element, the larger debt portion (£100,000 to £2m) is managed by FW Capital, and the equity pot is managed by Foresight.
Beth Bannister, senior investment manager at the British Business Bank, praised the fund managers for deploying capital efficiently and building long-term community relationships. "We are keen to continue this momentum as we enable Welsh businesses to reach their full potential," she added.
Founded in 2002 as a community development financial institution, BCRS has now provided over £100 million in loans to businesses in the West Midlands and Wales. In the last financial year alone, it lent £9.9 million to 124 businesses, safeguarding 889 jobs and creating 317 new ones.
