Lender hits £2m in small business loans

CRS Business Loans has reached a lending milestone in supporting the growth plans of small businesses in Wales.

- SION BARRY

As the fund manager for the smaller loans fund (£25,000-£100,000) of the British Business Bank's £130m Investment Fund for Wales, BCRS has provided over £2m in loans to 34 businesses.

The loans have created 104 jobs and protected a further 189, while providing more than £10.26m of economic growth across the country. Of the businesses assisted, 26% were female-led, while 15% focused on supporting firms underrepresented in traditional lending.

The Investment Fund for Wales, which was launched by the British Business Bank in late 2023, operates across the whole of Wales and includes a range of finance options with loans from £25,000 to £2m and equity investments up to £5m to help small and medium-sized businesses.

The larger debt element of the fund, ranging from £100,000 to £2m, is managed by Development Bank of Wales subsidiary FW Capital, while the equity pot is managed by Foresight.