BCRS Business Loans has surpassed £2 million in small business loans provided through the British Business Bank’s Midlands Engine Investment Fund II. The initiative has supported 35 small businesses in the West Midlands, creating 330 new jobs and safeguarding 107 existing roles. This success builds on the legacy of the first Midlands Engine Investment Fund and BCRS's commitment to providing crucial financial support to businesses in the region.
BCRS Business Loans has achieved another significant milestone by committing over £2 million in small business loans through the British Business Bank’s Midlands Engine Investment Fund II. A total of 35 small businesses across the West Midlands have benefited from agreements facilitated by the Wolverhampton-based BCRS Business Loans team since the fund’s launch in February 2024. This has resulted in an economic impact of £14.
7 million for the region, contributing to the creation of 330 new jobs and safeguarding a further 107 existing roles through this financial support. The £400 million Midlands Engine Investment Fund II spans the entire Midlands region, providing debt finance ranging from £25,000 to £2 million and equity investment up to £5 million. Its purpose is to assist small and medium-sized businesses in starting up, scaling up, or staying competitive. BCRS Business Loans is responsible for delivering smaller loans in the West Midlands, ranging from £25,000 to £100,000. Frontier Development Capital offers debt finance from £100,000 to £2 million, while Mercia Ventures provides equity investment up to £5 million. This £2 million milestone for Midlands Engine Investment Fund II follows on from the success of the first Midlands Engine Investment Fund, launched in 2017, which supported 250 small businesses through BCRS Business Loans. Since its inception in 2002, BCRS Business Loans has lent over £95 million, contributing to the creation of over 3,000 jobs across the West Midlands. Stephen Deakin, Chief Executive at BCRS Business Loans, commented: “The team at BCRS Business Loans is proud to reach the £2 million milestone as we build on our strong history of delivering British Business Bank funds. We are committed to ensuring that no viable business is left unsupported, especially as the economic outlook remains uncertain. Helping small businesses secure funding to start up, scale up, and stay ahead is at the core of our work. The fact that we have already distributed £2 million in loans in less than a year demonstrates the positive impact that Midlands Engine Investment Fund II can have in supporting our economy. Our fund managers are working closely with our network of introducers and advisers to assist business owners from a diverse range of sectors in securing funding.
Business Loans Midlands Engine Investment Fund BCRS Business Loans Small Business Support West Midlands Economy
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