BCRS Business Loans has passed another milestone by supporting more than 250 businesses in the West Midlands through the Midlands Engine Investment Fund’s Small Business Loans Fund.

BCRS, which specialises in funding for businesses that struggle to access finance from traditional lenders, has lent in excess of £16m to 267 companies through the MEIF.

The lending has led to 2,681 jobs being safeguarded, with a further 1,035 roles created.

Chief executive Stephen Deakin said: “The BCRS Business Loans team are proud to have enabled more than 250 West Midlands companies to gain support for growth and job creation from the MEIF Small Business Loans Fund over the last five years.

“Working across a broad range of sectors, our investment levels have been strong throughout the region, helping SMEs secure backing for growth capital.

“Amid challenging economic times, small businesses remain the backbone of our economy and a force for social good. Working with partners like MEIF we will continue to ensure no viable business goes unsupported.”

Keira Shepperson, director, regional funds at the British Business Bank, added: “By supporting more than 250 businesses, BCRS has enabled the MEIF Small Business Loan Fund to safeguard and create 1,000 jobs combined, while meeting its commitment to improving access to finance across the Midlands by helping SMEs to shape future growth.

“The Fund was set up to support start-ups, along with established small businesses looking to grow. With our delivery partners we can help firms preparing for growth, which is a time when companies traditionally find it difficult to obtain the finance needed.”