Local businesses invited to funding roadshow

A roadshow event is to be held in Newtown aimed at helping businesses throughout the area understand how funding can help them grow.

British Business Bank, which is partnering with fund managers BCRS Business Loans, FW Capital and Foresight, is hosting the Investment Fund for Wales Newtown Roadshow and is urging SME’s looking to launch, grow or gain competitive edge through investment to learn about all funding options available to them.

The event will be held on Wednesday 9 October between 9.30am – 12pm at Hafan Yr Afon. Attendees will be able to hear directly from businesses which have benefited from the funding, as well as talk directly to the fund managers about their circumstances in order to explore viable options.
 
The British Business Bank launched the £130 million Investment Fund for Wales last year. 

The fund operates across the whole of Wales and includes a range of finance options with loans from £25,000 to £2 million and equity investments up to £5 million to help small and medium-sized businesses start up, scale up or stay ahead. BCRS Business Loans is managing the smaller loans part of the fund (£25,000 to £100,000). 

FW Capital is responsible for larger loans (£100,000 to £2 million) and Foresight manages equity deals (up to £5 million).
 
Speaking about the opportunities for business, BCRS Business Loans chief executive, Stephen Deakin, said:
 
"This roadshow is a fantastic opportunity for SME’s, business advisors, accountants, bankers, lawyers, and those working in the wider small business support system, to hear directly from those who can help them to secure funding to boost their businesses.
 
“It will help people to understand that funding routes exist beyond the traditional mechanisms and, as fund managers, we are here to support businesses to boost economic prosperity across the region.
 
"At BCRS we support businesses that often find it difficult to access finance through traditional routes. We pride ourselves on our bespoke support as a story-based lender and base our decisions on the business itself, not computerised credit scores.

This roadshow is a fantastic opportunity for businesses, and we are looking forward to meeting people from across the region.”
 
The Investment Fund for Wales helps to increase the supply and diversity of early-stage finance by providing options to smaller businesses that might otherwise not receive investment. Funding is designed to help businesses with activities including expansion, product or service innovation, new processes, skills development, and capital equipment.
 
Having worked with SMEs unable to access finance from traditional sources in the West Midlands since 2002, BCRS Business Loans has expanded into Wales to help smaller businesses there prosper and thrive under the fund, which was officially launched in Cardiff in November.
 
Since BCRS was founded as a community development financial institution in 2002, it has provided loans worth more than £90 million to businesses across the West Midlands. A social impact report for the last financial year showed BCRS lent £5.8m to 72 businesses, safeguarding 675 jobs and creating 186 roles, adding £29.9m in value to the economy of the West Midlands and surrounding region.
 
Attendance is free of charge, but attendees are urged to register for the event. To do so please visit: https://www.eventbrite.co.uk/e/investment-fund-for-wales-newtown-roadshow-tickets-998545635877