ABCC ABCC Patrons Premier+ Partners
Funder set to lend more
One of the West Midlands’ largest providers of alternative business finance has been given approval to lend up to £4m under the latest Enterprise Finance Guarantee (EFG) programme. This is a two-fold increase on the amount
that was previously allocated to the provider, West BCRS Business Loans. The EFG programme is administered by the British Business Bank on behalf of the Government and lends cash via partners such as BCRS. The British Business Bank is the
UK’s national economic development bank, and was established three years ago. It makes funds available to smaller
businesses that are viable but unable to obtain finance from traditional lenders, due to having insufficient security to meet normal requirements. The increased accreditation follows BCRS
Business Loans’ successful track-record of delivering to local small and medium sized enterprises (SMEs) in the West Midlands that are struggling to access finance from traditional lenders.
Since 2012 the not-for-profit funder has lent
more than £4m to 114 businesses under the EFG programme. BCRS Stephen Deakin said: “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. As a result of this increased allocation we are able to lend up to £75,000 at a time using EFG.” BCRS Business Loans was
established more than 15 years ago
to support businesses across the West Midlands, and funds SMEs operating in
most market sectors, including construction, engineering, IT, manufacturing, retail and more. BCRS chief executive Paul Kalinauckas
(pictured) said: “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.”
Chamber hosts
night for patrons Asian Business Chamber of Commerce held a dinner at Malmaison hotel in Birmingham city centre recently for patrons and premier plus partners. The evening was hosted by ABCC vice
president Qasim Majid, and the keynote speaker was West Midlands mayor Andy Street. Pictured at the dinner are (from left):
Qasim Majid, Paul Faulkner, Manjit Kang, Andy Street, Nasir Awan and Damian Goom.
October 2017 CHAMBERLINK 39
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