BCRS to manage Midlands Engine fund
Regional lender BCRS Business Loans has been announced as a fund manager for the Midlands Engine Investment Fund.
BCRS will manage the small business loans fund in the West Midlands, including Shropshire, and will oversee the delivery of £17 million to small and medium-sized businesses over the full life of the fund.
Loans will be available from £25,000 to £150,000 for a wide range of projects, including start-up businesses, working capital, expansion projects, leasing commercial premises and asset acquisitions.
The Midlands Engine Investment Fund, operated by the British Business Bank, has been established to support start-up and existing businesses in the Midlands that are looking for funding to grow, develop and prosper.
Paul Kalinauckas, chief executive of Wolverhampton-based BCRS Business Loans, said: “We are delighted to have won the competitive tender to deliver small business loans across the West Midlands for the Midlands Engine Investment Fund. BCRS Business Loans and the MEIF initiative have a shared passion of liberating small businesses that are unable to access finance from traditional lenders.
“Not only do we believe in what our local SMEs do and meet their needs through a relationship-based approach to lending, but we also have an aim of leaving no viable business unsupported. With robust systems in place and an eighteen-strong team, we are well positioned to meet the targets of this initiative and support even more businesses.”
