These are the fees and charges that you, the applicant, agree to when applying for a loan with the Business Enterprise Fund
The information below provides details of the internal charges made by BEF Group in respect of actions and events that may occur during the course of your loan agreement including legal action.
In any one year overpayments are permitted up to 5% of the original amount of capital advanced. Over payments above 5% will be subject to a 3.5% charge against the payment made.
If more than 3 hours work is done by our legal and admin teams in arranging the security then the fixed fee will no longer apply, you will be notified and charged at the appropriate hourly rate below.
The following rates will apply for work done by BEF’s in-house team. Work will be recorded in time segments of 10 minutes and charged to the loan account.
ENTERPRISE FINANCE GUARANTEE
2% per annum of outstanding capital. Paid via quarterly fee by direct debit to scheme administrators
Any legal costs and expenses reasonably incurred by BEF in respect of a loan agreement properly entered into will normally be passed onto the Client. Except where such costs and expenses result from the Fund’s own negligent acts or omissions.