Community lender BCRS Business Loans has provided support to its mid-Wales business with a finance package to support growth, deployed from the British Business Bank’s Investment Fund for Wales (IFW.)
The £30,000 funding was provided to Newtown-based Hafren Services Limited, which has recently joined the Maid to Help group, and will now support Hafren as it responds to growing demand for specialist cleaning services, while allowing the company to invest in sustainable practices and technology needed to remain competitive in the ever-changing industry.
Delivering specialist cleaning contracts across Mid Wales, Hafren has established a strong presence across the region. And with demand for cleaning services in sectors including healthcare, education and housing expected to remain resilient, the investment will help the business build on its existing success, strengthen its offering and support its continued growth as part of the wider Maid to Help group.
The funding has been made available via the British Business Bank’s £130m Investment Fund for Wales, which also supported Hafren Services Limited earlier this year.
Samantha Howells, CEO of Hafren Services Limited, said:
“Securing this funding came at the right time as we look to invest in the future of our business.
“Hafren has a strong foothold in the Mid Wales market, and we’re delighted to recently welcome its team into the wider Maid to Help group. This funding will support us as we bring the businesses together, while also helping us respond to growing expectations around sustainability, technology and compliance.”
Samantha worked with BCRS Business Loans Business Development Manager, Niki Haggerty-James to secure the finance.
Niki added:
“We’re pleased to support Hafren and to invest in a business in the Mid Wales region.
“Hafren’s strong presence in the area, combined with Maid to Help’s plans for growth, made this an exciting opportunity to support an established business while helping the group expand its footprint. We’re delighted to play a part in the next stage of its growth.”
Bethan Bannister, Senior Investment Manager, Nations and Regions Investment Funds at the British Business Bank, said:
“We’re pleased to see the Investment Fund for Wales supporting an established Mid Wales business as it enters an exciting new phase of growth. Hafren Services has built a strong reputation for delivering specialist cleaning services across the region, and this funding will help the business invest and respond to changing customer needs.
“BCRS Business Loans’ first investment in a Mid Wales business demonstrates the reach of the Investment Fund for Wales and its role in ensuring smaller businesses across the whole of Wales can access the finance they need to grow and prosper.”
The British Business Bank backed Investment Fund for Wales 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 manage equity deals (up to £5 million).
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 2023.
Since BCRS was founded as a community development financial institution in 2002, it has provided loans worth more than £100 million to businesses across the West Midlands and Wales. A social impact report for the last financial year showed BCRS lent £10.2m to 112 businesses, safeguarding 895 jobs and creating 260 roles, adding £53m in value to the economy of the West Midlands, surrounding regions and Wales.
