£6.2m Milestone Reached by BCRS to Support SMEs and Jobs Across Wales and the West Midlands

Community lender BCRS Business Loans has surpassed £6 million in lending through the Community Investment Enterprise Fund (CIEF), advancing its mission to support underserved SMEs and boost economic growth across Wales and the West Midlands.

To date, BCRS has delivered £6.2 million in loans to 75 businesses, including £982,000 invested in 12 companies based in Wales. The funding has led to the creation of 208 new jobs and the safeguarding of 730 more, contributing a total of £32 million in added economic value to the regions.

Launched in 2023, the £62 million CIEF is supported by Lloyds Bank and managed by Social Investment Scotland (SIS). The fund targets businesses unable to access traditional finance, channelling investment through socially motivated Community Development Finance Institutions (CDFIs) such as BCRS Business Loans.

BCRS delivers CIEF-backed loans ranging from £25,000 to £250,000 in the West Midlands and Wales. Its portfolio includes a diverse array of businesses, with 31 per cent led by women—a reflection of its commitment to inclusive growth.

One such business is Greenfields Blackwood, a local nursery in Wales, which received funding to open its doors and serve the surrounding community.

“Seeing the nursery come together has been fantastic, and we were delighted to throw open our doors. The support from BCRS Business Loans was great, and without it we wouldn’t have been able to get to this point,” said owner Jason Roberts-Jones.

“Reaching £6 million in lending shows the growing impact we are achieving through the CIEF. The entire BCRS Business Loans team has been dedicated to maximising the CIEF’s reach, empowering firms to scale up, making strategic investments and creating job opportunities during these complex economic times,” said Stephen Deakin, Chief Executive of BCRS Business Loans.

The CIEF aims to support 800 small firms and sustain 10,500 jobs nationally. It is funded by Lloyds Bank and social impact investor Better Society Capital, in partnership with three CDFIs—BCRS Business Loans, Business Enterprise Fund, and Finance for Enterprise.

“Congratulations to BCRS Business Loans for achieving such a significant funding total with the CIEF. Their dedication to helping small businesses in economically disadvantaged areas shows the power of targeted investment in unlocking growth and generating employment within our communities,” said Alastair Davis, CEO of Social Investment Scotland.

“We congratulate BCRS Business Loans for their work at grassroots ensuring the CIEF investment is utilised by small enterprises which need it most, and in so doing, supporting our economy via regional development,” added Victoria Crisp, Investment Director at Better Society Capital.

In addition to its role in the CIEF, BCRS Business Loans serves as a fund manager for the £130 million Investment Fund for Wales and the Midlands Engine Investment Fund II, a £400 million initiative to support businesses across the Midlands.