social impact report & annual statement

BEF responds to applicants need for speed

BEF reaffirms its commitment to providing applicants with indicative feedback within 48 hours

Recent news has shown that the COVID-19 lockdown continues to decrease cash flows for many businesses.

While different funding options including CBILS have been available for some time, many businesses still struggle to access the finance they need in a timely manner.  In response, BEF has reaffirmed its commitment to provide indicative feedback to applicants within 48 hours of receiving a loan application.

The 48-hour indicative feedback is applicable to loan applications from £50,001 to £150,000 subject to the following information being provided at the time of application:

  • Accounts for the last financial year
  • Up-to-date Management Information
  • Bank statements for the last 3 months
  • A Personal Budget Planner

Simon Jackson, Head of Investment commented: "We are sensitive to the needs of SMEs throughout the North. There is a clear need for flexible finance that is delivered in a responsive and responsible way. That's the best way we can support the many businesses throughout the North who are currently struggling to access the finance they need."

BEF was one of the first lenders in England to deliver a CBILS loan. Since then it has supported businesses with over £7 million in CBILS back facilities, the fastest of which was delivered in 6 working days.

Simon Jackson continued: "Businesses have faced unprecedented challenges not seen since 2008. As a responsible finance provider, we are here to support as many businesses as we possibly can. Every £1 invested adds £4 to the regional economy, helping create or safeguard vital jobs while sustaining communities."

BEF supports businesses across the North with:

  • CBILS (from £50,001 to £150,000 unsecured)
  • Revive (up to £50,0000 unsecured)
  • Thrive (up to £150,000 secured)

Apply for a loan.

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