CWRT secures £13m to boost SME lending in West Midlands

The British Business Bank has announced Coventry and Warwickshire Reinvestment Trust (CWRT) as the third accredited delivery partner under its Community ENABLE Funding programme, unlocking up to £13 million in lending for underserved smaller businesses across the West Midlands.

Under the programme, CWRT will provide loans above £25,000 to support businesses that often struggle to secure finance from traditional lenders. The funding aims to help companies in disadvantaged areas, those with limited awareness of financial options, and firms previously declined by high street banks.

The programme also has a strong focus on supporting underrepresented groups, including female-led and ethnic minority-led businesses, helping to improve diversity and strengthen the local small business ecosystem.

Reinald de Monchy, Chief Banking Officer at the British Business Bank, said: “It’s great to welcome the Coventry and Warwickshire Reinvestment Trust as a delivery partner under the Community ENABLE Funding programme.

“Alongside First Enterprise, we now have two CDFI lenders accredited under the programme who are committed to supporting small businesses in the Midlands.”

Sheridan Sulskis, CEO of CWRT, added: “CWRT is proud to be the third lender in the UK to be accredited under the Community ENABLE Funding programme.

“This strengthens our ability to support businesses across Coventry, Warwickshire and the wider region, giving them access to the finance they need to grow, create jobs, and build resilience.

“At the heart of our mission is breaking down barriers to finance, with a particular focus on supporting women-led, ethnic minority-led, and disadvantaged businesses to realise their ambitions.”

The Community ENABLE Funding programme is designed to increase funding availability for social impact lenders, primarily Community Development Financial Institutions (CDFIs), which specialise in providing debt finance to smaller businesses underserved by mainstream banks. The initiative is expected to support up to £150 million of lending over the next two years, boosting economic growth and job creation across local communities.

Since 2010, CWRT – a not-for-profit, FCA-authorised specialist finance provider – has lent over £30 million to start-ups, individuals, and growing businesses in Coventry, Warwickshire, and surrounding areas.