Celebrating 500 Start Up Loans and the Transformative Power of Financial Support
BEF celebrates a milestone in lending to new businesses in Yorkshire, the Humber, and the North East.
Business Enterprise Fund (BEF) announced that it has recently disbursed its 500th Start Up Loan of the year. This milestone marks a significant achievement for the not-for-profit lender and underscores its unwavering commitment to supporting early -stage and start-up businesses while fostering economic growth.
Since its inception, BEF has provided accessible and affordable financing to aspiring business owners. The responsible finance lender recognises that access to capital is often a critical barrier for start-ups, and we are committed to bridging this gap. As a Start Up Loan Delivery Partner, BEF has helped thousands of founders to turn their dreams into reality, creating jobs, stimulating economic activity, and strengthening local economies.
In the last 11 years, BEF have helped founders from all backgrounds; young and old, women and men, white British and ethnic minorities create 2,170 new UK businesses. Currently, 41% of its Start Up Loans support women-led businesses while 21% of its Start Up Loans support businesses led by ethnic minority founders.
“Start Up Loans are more than just financial assistance; they are a lifeline for aspiring business owners who are passionate about making a difference in the world. By providing access to capital and support, we are empowering a new generation of innovators to turn their dreams into reality.”
Tim Burt, Senior Investment Manager
Start Up Loans are available for businesses that have traded for less than 3 years (36 months):
- Borrow up to £25,000 (BEF average loan size = £11,000)
- Fixed interest rate of 6% per annum (per year)
- Repay the loan over a term of 1–5 years
- No fees for arranging the loan or paying it back early
- 12 months of free post-loan mentoring
If you require funding to start or grow your business, explore the government backed Start Up Loans programme delivered by BEF to founders, partners, and directors in Yorkshire, the Humber and the North East.