Updating members of the co-operative society at Wolverhampton Science Park, Chief Executive Stephen Deakin said in the current financial year the lending specialist was ahead year-on-year compared to the same point in 2025-26, which had been among its best years for generating economic impact.
Operating as a non-profit community development finance institution, Wolverhampton-based BCRS Business Loans offers a story-based approach to lending, enabling firms in the West Midlands and Wales to access finance from between £10,000 and £250,000 to help generate growth and support recovery plans.
Sharing the impact report for 2025-2026, Mr Deakin said: “In the last financial year, BCRS Business Loans lent £10.2m to 112 businesses, generating an economic value of £53.2m in the second best year since our launch in 2002.
“Our lending created 260 jobs and safeguarded 895 more. This performance was a great achievement given the challenging market. We dispersed 21 per cent of our loans to ethnic minority-led businesses, 25 per cent of loans went to female-led businesses and 36 per cent of lending took place in the most deprived areas of the UK.
“In the current year we are ahead of budget and ahead of our performance last year. We want to increase the proportion of lending to under-represented entrepreneurs and we are using AI in our business more with a view to free up time to increase the human element by spending more time with customers.”
Mr Deakin paid tribute to outgoing Chairman Paul Smee, who is due to step down later this year after over five years in the role. Mr Deakin said: “I would sum up Paul as being a gentleman. There are not enough people like him in the world.”
Speaking to the AGM on Thursday September 3, Mr Smee thanked the BCRS Business Loans team for their work in achieving their goals in the last financial year.
He said: “BCRS Business Loans is performing a very important function in the markets and areas we serve. We are reaching companies and creating employment and economic opportunities which otherwise would not be created.”
In turn Mr Smee paid tribute to Tony Wood, who is retiring from his role as Head of Credit at BCRS Business Loans after 10 years in the role. Mr Smee said: “Tony is valued by the board and his colleagues as you know he has an eye for detail. Thank you for everything you have done for BCRS Business Loans and we wish you well for your retirement.”
Since 2002, BCRS Business Loans has delivered more than 2300 loans totalling over £110 million, generating more than £500 million in economic impact.
BCRS Business Loans recently celebrated lending £13m through the Community Investment Enterprise Fund (CIEF), supporting more than 150 businesses across the West Midlands and Wales. Having recently completed the distribution of its allocated funds, BCRS Business Loans has generated more than £67m in economic impact in total.
Earlier this year the lender was allocated £20m to support underserved small businesses across the West Midlands and Wales as the sixth lender to be accredited by the British Business Bank under its Community ENABLE Funding programme.
BCRS Business Loans is also a fund manager for the small funds pot of the first £130m Investment Fund for Wales and for the Midlands Engine Investment Fund II, which will deliver a £400m commitment of new funding for businesses across the Midlands.
Read the impact report here: https://bcrs.org.uk/impact/
Visit www.bcrs.org.uk to discover more or submit an initial application form.
The value statistics in the impact report are calculated using the Responsible Finance Economic Impact Calculator, originally prepared by the Centre for Business in Society (CBIS) at Coventry University with assistance from James Medhurst at ICF International, with the support of Citi.
