CWRT Signs Armed Forces Covenant to Strengthen Support for Veterans and Service Leavers in Business

Committing to support veterans, reservists, service leavers and military families across the Midlands by improving access to finance, enterprise and business support.

The signing goes beyond a formal pledge, CWRT is already helping current and former service personnel turn their skills gained through military service into lasting businesses.

CWRT is a Community Development Finance Institution (CDFI), providing business loans and support to entrepreneurs and growing businesses that often struggle to get finance from traditional lenders. By signing the Covenant, CWRT confirms that members of the Armed Forces community will get fair access to that finance and a genuine chance to pursue their business ambitions, where there is a viable business proposition.

CWRT were glad to have Darin Tudor and Lieutenant Richard Ackerman RNR with them for the signing event. Darin is a former RAF Harrier Jump Jet Engineer who now sits on the Defence Industrial Joint Council (DIJC), the Ministry of Defence's forum for bringing government, the Armed Forces, industry and academia together to strengthen the UK's defence capability. Richard, after recently leaving active service with the Royal Navy, continues to serve in the Royal Naval Reserve, bringing a serving perspective to the room alongside Darin's.

Sheridan Sulskis, Chief Executive of CWRT, said:

“Signing the Armed Forces Covenant is a natural step for CWRT because it reflects what we already believe – that everyone should have the opportunity to realise their ambitions, regardless of their background or the path they've taken to get there.
Members of the Armed Forces Community bring an incredible wealth of leadership, resilience and determination to civilian life. Those qualities are invaluable when building a business, yet access to finance can still be a barrier for many as they transition into self-employment or entrepreneurship.

Through this commitment, we want veterans, reservists, service leavers and military families to know that they have a trusted partner who will take the time to understand their ambitions, recognise their potential and support them in accessing the finance and business support they need to succeed. We also see this as the beginning of our journey and look forward to creating even more opportunities for the Armed Forces Community in the years ahead.”

CWRT hopes that signing the Armed Forces Covenant will encourage more veterans, reservists and service leavers with business ambitions to find out what finance and support is available to them in the Midlands region. 

Many people leaving the Armed Forces bring highly developed leadership, problem solving and technical skills that translate well into running a business. Access to finance is often the biggest obstacle they encounter when setting up their business. CWRT hope that their relationship led approach they employ in their lending process, makes this easier by working with business owners to understand their business and their individual circumstances, then structuring a finance package to match rather than screening people out with a traditional algorithm.

Veterans, reservists, service leavers and military families across the Midlands who are thinking about starting or growing a business are encouraged to speak to CWRT about what support may be available.

For more information, visit www.cwrt.uk.com.