BCRS, based in Wolverhampton, has supported more than 100 firms in West Midlands and Wales

Wolverhampton-based BCRS Business Loans has exceeded £10m in lending through the Community Investment Enterprise Fund (CIEF), supporting 121 companies across the West Midlands and Wales.

The community finance provider has delivered £10.3m in loans, creating 288 jobs and protecting 1,337 roles whilst generating £52m in added economic value. 

The £62m CIEF, launched in 2024 and backed by Lloyds, provides investment to businesses unable to access traditional finance.

Secured loans of up to £250,000

Managed by Social Investment Scotland, the fund offers secured loans between £25,000 and £250,000. 

Notably, 26 per cent of recipients were female-led businesses, with another 26 per cent led by people from ethnic minorities.

West Bromwich-based Vabe Wholesale secured £50,000 to expand stock and marketing. 

Founder Vivian Akaforonye said: “We plan to invest the funds in the business, increasing the stock range and creating jobs. 

It has been a smooth experience with BCRS Business Loans as they worked with us, supported and guided us.”

BCRS chief executive Stephen Deakin said: “Passing £10m in lending shows the growing impact we are achieving through the CIEF, helping businesses like Vabe Wholesale to grow to the next level.”

Alastair Davis, chief executive of Social Investment Scotland, added: “Their focus upon enabling small businesses in economically underserved areas to access finance shows the power of local, knowledgeable support.“​​​​​​​​​​​​​​​​