Business News


LENDING TO SUPPORT BUSINESSES IN THE WEST MIDLANDS


Chamber member ART Business Loans (ART) has been stepping in when the banks can’t help for over 20 years, enabling businesses in the West Midlands to achieve their growth plans and create or preserve local jobs.


ART is a specialist, independent, lender on a mission to ensure that businesses with a viable proposition, which do not meet the banks’ lending criteria for whatever reason, can access the finance they need to survive and thrive.


Steve Walker, Chief Executive of ART, explains: “There are many reasons why a viable business will fail to meet the banks’ lending criteria. The banks have a different business model to ART. We are a social enterprise and our primary purpose is to boost the local economy. We are interested in the potential a business has to succeed or grow in the long term and the number of jobs it can provide. We often lend alongside the banks and other finance providers to create a package of finance, allowing businesses to access larger sums. We are looking to help businesses grow, diversify or ride out the cashflow challenges of the unexpected.”


The Birmingham Small Business Loan Fund In 2017 ART joined forces with Birmingham City Council, ThinCats peer lending platform and Unity Trust Bank to create a loan fund for small to medium sized businesses (SMEs) in Birmingham. The Birmingham Small Business Loan Fund (BSBLF) is aiming to lend £3m to Birmingham businesses over three years and has lent almost £500,000 in the first six months.


ART’s website includes an interesting selection of borrower’s stories.


See: www.artbusinessloans.co.uk/casestudies/


Picture shows the ART Business Loans lending team (left to right) Martin Edmonds, Roz Haque, Andy King, Graham Donaldson Photographer: Marc Kirsten


For more information see:www.artbusinessloans.co.uk/apply­for­a­loan/birmingham­small­business­loan­fund/ 22 CHAMBERLINK March 2018


Be Inspired ART lends for any business purpose and to any business sector. Borrowers have ranged from hi­tech specialist manufacturers and gyms to restaurateurs and training companies. Some have come back several times over the years to borrow for different reasons; others taken advantage of the opportunity to repay early with no penalty and re­finance their businesses.”


Financial Support and Advice ART’s highly experienced lending team, based at Innovation Birmingham Campus, takes a personal approach to assessing loan applications. “We like to get to know our borrowers so that we are also in a position to signpost to other finance and business support providers, as appropriate, including the Chamber­based Growth Hub.” says Steve.


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