social impact report & annual statement

BEF continues to champion access to finance with 5-year RLS loans

The not-for-profit lender continues to offer RLS loans up to £250k over 5 years at 14% (maximum)

Over the last three years, SME businesses - the lifeblood of the UK economy - have endured the toughest of times due to the chaos and uncertainty caused by the Covid-19 pandemic. Access to flexible finance via the government-backed CBILS, CLBILS, BBLS and RLS schemes helped support their survival.

The introduction of RLS Phase 3 in August 2022, was designed to support access to finance for UK small businesses as they look to invest and grow. Six months on, many businesses can be forgiven for thinking that they only have access short-term or high interest loans.

As an accredited RLS3 lender, BEF continues to provide access to longer term lending products that do not burden businesses with high interest rates.

Many businesses would benefit from the appropriate and manageable costs that a five-year RLS loan provides.

The key points of our current RLS loans are:

  • Borrow from £25,001 to £250,000
  • Repay over a 5 year term
  • Interest rate of 14% per year (maximum)

Simon Jackson, Director of Investment said: "Access to flexible finance is critical to SMEs who are the lifeblood of our communities and economy. We are committed to supporting them with finance they can build on without the concerns that short-term, often interest only, loans bring."

We welcome the opportunity to support the growth of your business. Contact us today discuss a loan of up to £250,000. Apply online, today.

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