Community lender BCRS Business Loans has reached another landmark in generating economic growth and job creation by passing £1 million in lending on behalf of the latest Community Investment Enterprise Fund.The company has achieved seven figures in loans delivered for the second CIEF, which was launched in March and backed by Lloyds Bank, the first mainstream lender at scale to finance loans for delivery through socially motivated community development finance institutions.
Funded by Lloyds Bank, along with social impact investor Better Society Capital and contributions from the three participating CDFIs, BCRS Business Loans, Business Enterprise Fund and Finance for Enterprise, the new CIEF aims to invest in 800 small businesses nationally and support 10,500 jobs. “Having broken new ground by attracting funders including Lloyds Bank, the new CIEF allows CDFIs like us to help growing companies in some of the UK’s most economically challenging region provide jobs, positive social impact and economic growth.”
The delivery of CIEF investment comes after BCRS Business Loans was named as a fund manager for the £130m Investment Fund for Wales and the Midlands Engine Investment Fund II, which is delivering a £400m commitment of new funding for businesses. The Pint After Work event provides attendees with an opportunity to network and build professional relationships in a friendly and relaxed atmosphere, with gatherings held throughout the year.
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