Vimeo logo Twitter logo LinkedIn logo

News

Header icon
Back to News bcrs image

6th August 2019

£2million delivered to 60 businesses by loan fund

A loan fund set up to support West Midlands businesses has reached a new milestone.

The MEIF Small Business Loan Fund, which is delivered by BCRS Business Loans, has now invested and loaned £2million to over 60 West Midlands businesses that have been unable to access finance from traditional lenders.

The fund is part of the Midlands Engine Investment Fund (MEIF), which was set up to transform the finance landscape for small and medium-sized businesses. The MEIF is delivered by six appointed fund managers, including BCRS Business Loans.

BCRS Business Loans provide loans from £10,000 to £150,000 to viable West Midlands based businesses that are looking to grow.

Commenting on this milestone, the chief executive of BCRS Business Loans, Paul Kalinauckas, said:

“We are incredibly proud to be a delivery partner for MEIF, which is an important initiative for small and medium sized businesses that are looking to grow and prosper.

“Delivering over £2million from our MEIF fund is an excellent achievement and is crucial to the prosperity of our region by boosting economic activity and providing jobs for local people

“As the region’s biggest Responsible Finance Provider, we believe that no viable business should go unsupported and ensure that a fast, relationship-based approach to lending is at the heart of our loan process.”.

Ryan Cartwright, Senior Manager at the British Business Bank, said:

“Following the recent announcement that the MEIF has now reached the £50million investment milestone, this additional achievement by BCRS Business Loans is testament to the hard work of our fund manager.

“BCRS has now supported over 60 businesses, unlocking finance to help them expand and supporting the growth of the local economy. The funding provided so far has supported international expansion projects, the purchase of new equipment and creating jobs.”

The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

Follow @midsenginv

Derby manufacturer @ComplexiaUK is set to expand and create 7 new jobs after a £100k boost from #MEIF and @1st_Enterprise.

Funding will be used to invest in new machinery and support the firm as it moves into new markets.

Read more in @insidereastmids: https://t.co/wBhDHDCOXi https://t.co/wcCOQx46lT
MidsEngInv photo

Stay up to date with the latest investment news, views and deals on our #MEIF LinkedIn.

Connect here: https://t.co/2ArDcrrsVn https://t.co/hp9ODpRYO2
MidsEngInv photo

In a guest blog for @pegasusfunding, @LewisGStringer discusses how the @BritishBBank and #MEIF are working to improve access to finance for small businesses in the #EastMidlands.

Read it in full here: https://t.co/4ndpsGsIGT https://t.co/Y5GUIIQwfl
MidsEngInv photo

The #MEIF has helped to create new job opportunities across the #Midlands as our Early Assessment Report reveals funding has been used to increase employment in 81% of recipient businesses.

Read the full report here: https://t.co/NnfU2oqVQm https://t.co/2GGpUtmFaJ
MidsEngInv photo

If you're looking to get your business ambitions off the ground, #MEIF's Proof-of-Concept equity finance can help realise your business dream.

Find out more on our website: https://t.co/JZXreSnJwq https://t.co/f3agCaiRTM
MidsEngInv photo
Find Out More

If you would like to meet with one of our appointed Fund Managers to talk in more detail please go to Funds Available to find the Fund Managers operating in your area

small business loans

Small Business Loans

£25k – £150k

Small Business Loans pageLearn More
debt finance

Debt Finance

£100k – £1.5m

Debt Finance pageLearn More
equity finance

Equity Finance

£50k – £2m

Equity Finance pageLearn More
proof of concept

Proof of Concept

Up to £750,000

Proof of Concept pageLearn More
Follow @midsenginv

Derby manufacturer @ComplexiaUK is set to expand and create 7 new jobs after a £100k boost from #MEIF and @1st_Enterprise.

Funding will be used to invest in new machinery and support the firm as it moves into new markets.

Read more in @insidereastmids: https://t.co/wBhDHDCOXi https://t.co/wcCOQx46lT
MidsEngInv photo

Stay up to date with the latest investment news, views and deals on our #MEIF LinkedIn.

Connect here: https://t.co/2ArDcrrsVn https://t.co/hp9ODpRYO2
MidsEngInv photo

In a guest blog for @pegasusfunding, @LewisGStringer discusses how the @BritishBBank and #MEIF are working to improve access to finance for small businesses in the #EastMidlands.

Read it in full here: https://t.co/4ndpsGsIGT https://t.co/Y5GUIIQwfl
MidsEngInv photo

The #MEIF has helped to create new job opportunities across the #Midlands as our Early Assessment Report reveals funding has been used to increase employment in 81% of recipient businesses.

Read the full report here: https://t.co/NnfU2oqVQm https://t.co/2GGpUtmFaJ
MidsEngInv photo

If you're looking to get your business ambitions off the ground, #MEIF's Proof-of-Concept equity finance can help realise your business dream.

Find out more on our website: https://t.co/JZXreSnJwq https://t.co/f3agCaiRTM
MidsEngInv photo

For the latest news and views join our mailing list

Join our mailing list

Just add your details below to receive the latest Northern Powerhouse Investment Fund news and information