BCRS Business Loans becomes first lender in UK to be awarded code of good conduct
BCRS Business Loans has become the first lender in the UK to be awarded the European Code of Good Conduct for Microcredit Provision.
This places BCRS Business Loans as a leader in the microfinance industry after complying with all 175 standards and ethical practices set out by the European Commission.
The code has been introduced to ensure quality across the sector in areas such as customer service, management information, credit management and governance. It also acts a quality mark for individuals and businesses that are looking to access finance.
Welcoming the news Paul Kalinauckas, the chief executive of Wolverhampton-based BCRS Business Loans, said: “We are pleased to have secured this incredible achievement and I am proud of the team for working so hard to position BCRS Business Loans as a trailblazer in our sector.
“We believe in supporting smaller businesses access the finance they need and have always been committed to providing excellent customer service. We are the first in the UK to be awarded this Code of Good Conduct and the fifth lender in the whole of Europe.”
BCRS Business Loans aims to leave no viable business unsupported by supporting those that are unable to access finance from traditional lenders. Providing loans from £10,000 to £150,000, the not-for-profit lender supports most market sectors and, since 2002, has lent £34.7 million to over 1,120 businesses.
Neena Gill, Labour MEP for the West Midlands said: "The European Commission introduced the Code of Good Conduct for Microcredit Provision to ensure transparent and open provision of small loans to small businesses.
"BCRS has been a recipient of European Regional Development Funding to make small business loans in the West Midlands. I am delighted that BCRS passed the code with flying colours."
