BCRS Business Loans has passed a milestone in providing over £1 million of finance to help small businesses across Wales.
As the fund manager for the smaller loans fund (£25,000 to £100,000) for the British Business Bank’s £130m Investment Fund for Wales, BCRS is celebrating the milestone having supported the growth of 19 SME’s from across the country in just under a year.
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 £2 million and equity investments up to £5 million to help small and medium-sized businesses start up, scale up or stay ahead.
Corwen-based BluSky Brands, a leading distributor of professional haircare products, is the latest company to benefit after securing a £25,000 finance package from BCRS. It is now eyeing further growth with the launch of a line of next generation smoothing products which will create extra income streams for salons and stylists across the UK.
BluSky brands, which has been working to exclusively support UK stylists and salons with innovative, high-quality products for a number of years, has brought the line of Brazilian developed products to the UK and is now looking to help salon clients experiencing unruly, frizzy hair. The line of 13 products is being marketed under ‘Brazilian Nano’ and its launch to the UK market was possible after BluSky Brands received the finance, which has been used to support product and marketing costs.
Tony Cripps, Founder and Managing Director of BluSky Brands who has been involved in the hair industry for over 40 years, explains:
“I have vast experience in the industry and quickly realised that this line of products is truly innovative, so when I had the opportunity to bring them initially into the UK, and then Europe, I knew I needed to explore all avenues, before someone else did.”
It was then that Tony was introduced to BCRS Business Loans through accountancy firm, Haines Watts.
“We know that this line is the next generation in helping people with frizzy and unruly hair. Unlike many existing smoothing products on the market, this is different technology that really does make a lasting impact.
“I am hugely excited to bring this line to the UK and after our recent launch we have had an amazing response from salons and stylists nationwide. With such positive initial results and feedback it will only be a matter of time before we expand distribution into Europe.
“None of this would be possible without the support of BCRS. It’s enabled us to launch an innovative product, and more importantly, under a brand that we have control of.
“The finance has enhanced the value of the BluSky Brands business and will hopefully allow us to open many more doors for continued growth.”
Stephen Deakin, Chief Executive at BCRS Business Loans, said:
“We are proud to have distributed £1 million of funding to help small businesses across Wales with their growth plans.
“BCRS are a story-based lender, and we support businesses that often find it difficult to access finance through traditional routes. We pride ourselves on our bespoke support and base our decisions on the business itself, not computerised credit scores.
“We look forward to working with more businesses across the country to help them realise their growth plans.”
Beth Bannister, Senior Investment Manager, Nations and Regions Investment Funds at the British Business Bank, said:
“The Investment Fund for Wales exists to support ambitious and innovative companies like BluSky Brands who have spotted a marketplace opportunity and need the finance to help execute their plans.
“Entrepreneurial spirit is alive and well in Wales and the British Business Bank is here to support Welsh business owners in their endeavours to scale and grow.”
