BEF has today increased it’s unsecured lending limit to £250,000, in a step to support more early stage and established SMEs across the region.
Chief Executive, Steve Waud, explains: “We’re excited to announce an increase in our unsecured lending limit. Access to finance remains a real issue for many SMEs and we continue to play an important role in the market, offering an alternative or complementary source of finance to the banks or mainstream lenders. For businesses that meet our criteria, the additional lending could not just help individual companies scale up faster, but also boost the wider economy creating real social impact.”
Eligibility for unsecured loans up to £250,000 is subject to full due diligence and would need to meet our lending criteria. Typical features of a qualifying business applying for this higher amount would include most of the following:
✓ An established and profitable business with an increasing net worth
✓ Operating on a B2B basis
✓ Management accounts produced at least on a quarterly basis
✓ Experienced owners / directors with good credit and personal asset positions
✓ Operating a clean bank account with low business debt
✓ Can demonstrate job creation as a result of the lending
The NatWest SE100 Index recognises BEF for the support it gives to the communities it serves.