The award means BCRS Business Loans is the microfinance industry leader, as it complies with all of the European Commission’s 175 standards and ethical practices. The code was developed to make sure of quality in areas like credit management, customer service, governance and management information. It’s a quality market for companies and individuals who need financial assistance.
BCRS Business Loans Chief Executive Officer Paul Kalinauckas said they were excited about the achievement and proud of all the employees working hard to ensure the company becomes the industry leader.
Kalinauckas said the company believes in giving small business support by providing them with the financing they need and offering them the best customer service possible. He said BCRS is the first UK company to be given the Code of Good Conduct and the fifth lender in Europe.
BCRS Business Loans’ goal is to ensure all companies are supported even if they can’t get financing from traditional banks. The not-for-profit lender offers business loans starting at £10,000 all the way to £150,000, supporting the majority of markets. The company has lent roughly £34.7 million to more than 1,120 companies since 2002.
West Midlands Labour MEP Neena Gill said the European Commission developed the Code of Good Conduct award to make sure there were clear provisions for small businesses to attain the loans they needed. She said the BCRS had surpassed the code with high expectations – in providing business loans to companies in the West Midlands.