Wolverhampton-based BCRS Business Loans is the sixth lender to be accredited by the British Business Bank under its Community ENABLE Funding programme and is the first with a dedicated focus on Wales.

Operating since 2002, BCRS Business Loans will draw upon Community ENABLE Funding to offer loans ranging from £25,001 to £250,000. The lender also delivers loans on behalf of the British Business Bank through the Midlands Engine Investment Fund and Investment Fund for Wales.

BCRS Business Loans operates as a not for profit community development finance institution with a focus on supporting underserved small to medium sized enterprises, particularly in deprived areas and among underrepresented social groups.

BCRS Business Loans, which works to a goal of ensuring no viable business goes unsupported, recently celebrated reaching £100 million in total lending to businesses since it launched, generating overall £518 million in economic impact.

Stephen Deakin, Chief Executive of BCRS Business Loans, said: “As a community development finance institution BCRS Business Loans is pleased to build upon our longstanding partnership with the British Business Bank to join the lenders accredited under the Community ENABLE Funding programme.

"Following on from the progress we have made together through the Midlands Engine Investment Fund and Investment Fund for Wales this accreditation strengthens our support for businesses in those areas, giving them vital access to the finance they need to generate growth and create employment, delivering impact in their local communities.

“In our most recent financial year 34.6 per cent of lending was invested in the UK’s most disadvantaged areas so we look forward to delivering on the British Business Bank’s wider mission to improve access to finance for underserved entrepreneurs.”

Following the accreditation of BCRS Business Loans, £102m has now been allocated to community development finance institutions under the British Business Bank programme.

Reinald de Monchy, Chief Banking Officer, British Business Bank said: “We’re very pleased to welcome BCRS Business Loans as the sixth lender to the Community ENABLE Funding programme. Its commitment to supporting small businesses across the West Midlands and Wales aligns perfectly with our remit to widen access to finance across the UK’s Nations and regions.

“Through collaboration, we can help more entrepreneurs invest, grow and create jobs in the communities they serve for businesses that are the backbone of their local economies. We look forward to seeing the positive impact BCRS will deliver for businesses across these regions.”

BCRS Business Loans is one of the members of the UK Community Finance Partnership Taskforce, alongside the British Business Bank, which was launched in February to scale the community development finance institution sector through partnerships with banks, securing concrete commitments for growth.

One of the key objectives of the British Business Bank’s Community ENABLE Funding programme is to help develop the whole sector, so many more such businesses can access the finance they need.

The programme works by increasing the availability of funding to social impact small business lenders, and in turn the smaller businesses they serve in local communities.

It is aimed at community development finance institutions, and will provide a significant boost to the sector, supporting up to £150m of lending over its first two years.