A Dudley based marketing communications firm has secured a £52,000 funding package to take on new contracts and employ an additional member of staff.
Media Group secured finance from the Midlands Engine Investment Fund, MEIF Small Business Loan Fund, managed by BCRS Business Loans, and by the Recovery Loan Scheme (RLS).
Media Group, which has been delivering a full suite of marketing support to brands for over 23 years, required a funding boost after experiencing an increase in demand following the disruption initially caused by Covid-19 in 2020.
Christopher Taylor, Director at Media Group, said: “After securing MEIF funding from BCRS, we will now be able to action our growth plan.
“This will not only allow us to invest in smart marketing technology which will save time, money and provide real-time results for our clients, it will also enable us to employ an additional team member.
“A new dedicated content specialist is key to our growth plans as we intend to enhance our content management offering, which a number of clients have already expressed an interest in.”
Louise Armstrong, Senior Business Development Manager at BCRS Business Loans, said: “I am really pleased that we were able to provide the funding that Media Group needed to make its exciting plans for the future a reality. As a lender dedicated to social and economic impact, we are also delighted that an additional job is set to be created in the local area.
“We are committed to supporting businesses that are unable to tick all of the boxes at other lenders and offer a human approach to lending where we base our decisions on the business rather than a computerised credit score.”
Ryan Cartwright, Senior Manager, UK Network at the British Business Bank, said: “The MEIF is here to support businesses with their growth plans. It’s great to see Media Group take advantage of the regional funding available. We encourage other businesses in the Dudley area looking to innovative, develop or grow to consider MEIF funding.”
The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
The Recovery Loan Scheme is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy and Industrial Strategy.
Business loans from £25,000 to £150,000 are available via the MEIF Small Business Loan Fund, which is delivered to businesses located in the West Midlands region by BCRS Business Loans.