A Wrexham-based self-storage business is celebrating rapid growth after securing a £40,000 loan from BCRS Business Loans – part of a record-breaking year for the community lender.
Wynnstay Self Storage Ltd used the funding to transform a two-acre site into a fully operational storage facility, now home to 60 units and space to house 80 caravans and motorhomes.
Owner Matt Pritchard said the financing helped turn underused land into a thriving business.
“I own the land, so deciding to put it to good use made a lot of business sense,” said Mr Pritchard.
“I contacted BCRS to see if they could provide the finance to allow me to put in the infrastructure to house the containers, whilst also purchasing the storage units themselves.
“Dealing with James at BCRS was straightforward, and he took time to understand the business proposition.
“After securing the finance, I purchased ten additional units and am pleased to say that we have been operating at full capacity since.” He added: “The site is full and we have further space to develop, so this is part of the next growth stage for the business.
”I know the demand is there as we have a mix of short and long-term customers, and if a space becomes available, it’s taken within a week. “To see the land more efficiently utilised is pleasing, and I’m thrilled to see how this finance has quite literally opened doors to customers. I’m looking forward to seeing what the next chapter brings.”
Wynnstay Self Storage is one of 124 businesses supported by BCRS Business Loans in the last financial year.
The lender issued nearly £10 million across Wales, the West Midlands and surrounding areas – a 68% increase in the number of small and medium-sized enterprises (SMEs) funded compared to the previous year.
In total, £9.9 million in loans safeguarded 889 jobs and created 317 new roles, contributing £51.2 million to the regional economy. More than a third of this lending went to the UK’s most disadvantaged areas.
CRS Business Loans chief executive Stephen Deakin said: “We are thrilled with last year’s performance, which demonstrates our commitment to supporting businesses when they need it the most.
“We have been able to substantially increase our lending activity, which has resulted in jobs protected, new roles created, and millions added to the regional economy.”
As a Community Development Finance Institution (CDFI), BCRS Business Loans operates as a non-profit distributing company through a story-based approach to lending, issuing loans between £10,000 and £250,000 to help grow and support recovery plans.
Since BCRS Business Loans was founded in 2002, it has provided loans to businesses, with a focus on supporting entrepreneurs and businesses in economically disadvantaged areas.
In Wales, BCRS Business Loans manages smaller loans through the Investment Fund for Wales (IFW), also operated by the British Business Bank, in the lender’s first expansion into the Principality.
IFW offers smaller loans from £25,000 to £100,000, debt finance up to £2 million, and equity investment up to £5 million to support Welsh businesses.
