BCRS Business Loans

Business loans for SMEs in the West Midlands and Wales

BCRS Business Loans is a non-profit co-operative financial institution established in 2002 with the aim of providing finance to small and medium-sized businesses in the West Midlands and Wales. Its activity is aimed specifically at businesses that cannot access finance from traditional lenders, whether due to a lack of credit history, disproportionate security requirements, previous financial difficulties or because they do not fit conventional credit scoring methods.

The organisation operates with its own loan fund and provides amounts ranging from £10,000 to £250,000. According to its own presentation, it has supported more than 1,500 businesses in the West Midlands and Wales.

A relationship-based lending model

BCRS describes itself as a relationship-based lender and rejects the use of impersonal automated credit scoring systems. Each applicant has a dedicated business development and loans manager who meets the client in person and supports them throughout the entire application process. The organisation describes its approach as personable, accessible and reliable, with a speedy approval process and no early repayment charges.

Funding is aimed at businesses that make a positive contribution to the social and economic wellbeing of the West Midlands and Wales, the areas it covers.

Institutional and regulatory profile

BCRS Business Loans Limited is registered as a co-operative society, number 29393R, under the Co-operative and Community Benefits Societies Act 2014. The organisation is authorised and regulated by the Financial Conduct Authority (FCA) of the United Kingdom, Firm Reference Number 722855. As it does not distribute profits among shareholders, the organisation places the social and economic impact of its lending activity at the heart of its model.

Loan calculator and terms

The organisation's website includes a calculator that allows users to estimate the monthly repayment based on the amount requested, within the range of £10,000 to £250,000, and the term in months. The calculator itself warns that this is an illustration for unregulated loans, calculated on an interest rate of 12.00% plus the Bank of England base rate in force at the time of the enquiry, and that rates may vary according to the individual circumstances of each applicant. Loan approval is subject to an affordability assessment and verification of compliance with the applicable conditions.

Recent activity

Among the information published by the organisation is the provision of funding to a mid-Wales business to support its growth plans.