Coronavirus (COVID-19) Support for Businesses

BEF Group Terms of Engagement

These are the terms that you, the applicant, agree to when applying for a loan with the Business Enterprise Fund

BEF Group comprises of:

Business & Enterprise Finance Ltd t/a Business Enterprise Fund (Co no. 1792109); Business & Enterprise Finance (NE) Ltd t/a BEF (North East) (Co no. 09360892); Goole Development Trust (Co no. 3383475); BEF BSC Ltd (Co No. 11609382) and BEF-NPIF LTD (Co No. 10638308) as General Partner of the NPIF YHTV Microfinance LP.

Registered Office: The City Hub, 9 - 11 Peckover Street, Bradford BD1 5BD

These Terms of Engagement and the information therein apply to all BEF Group companies and associated funding providers.

Telephone Number: 0800 080 3145.

1)    Who We Lend To

2)    Application Process  

Any advice, information, guidance or support you receive from an investment manager (or other BEF staff) during or after the application process, does not in any way to constitute the giving of professional advice and BEF Group accepts no responsibility for any reliance you may place on any such information or advice given, which is done entirely at your own risk.

3)    Coronavirus Business Interruption Loan Scheme (CBILS)

The Coronavirus Business Interruption Loan Scheme (CBILS) is managed by the British Business Bank on behalf of, and with the financial backing of the Secretary of State for Business, Energy and industrial Strategy (BEIS). Full details on CBILS and the list of participating CBILS Lenders can be found on the British Business Bank website at:

You can find out more about the CBILS in the Loans section of our website

4)    Arrangement Fee

5)    Securities

You can find out more about Personal Guarantees in the Legal Information section of our website.

You are strongly advised to obtain independent legal advice on all securities required 

6)    Repayments 

7)    Performance Monitoring

8)    Financial Recovery and Admin Fees

BEF Group will pursue all avenues available to secure repayment of the loan in the event of default or business failure.

9)   Fees and Charges

In addition to the arrangement fee, other fees and charges may become due either in arranging securities as part of our conditions for lending to you or during the life of the loan. A full list of these charges can be found on our Website in the Legal notices section. If you are unable to access our website or would prefer a printed copy for your records please ask either your Investment Manager or a member of our admin team.

10)   Disclosure Declarations  

Personal Credit Checks

A credit assessment and Credit Check will be carried out on both the company and all directors and applicants as individuals.. Credit searches may also be carried out at a future date as part of our trace and recovery work or in the prevention of fraud. The credit reference agency will hold a record of any search we make on your credit file which may be seen by other organisations if you apply for credit in the future.

Providing False or Misleading Information

Your personal Data and how it will be used

Your information is needed to assess, manage and monitor your loan arrangement and contract with us, we may also need to approach your bankers and/advisors for clarification should the need arise.

It will be used to confirm your identity and creditworthiness and for the prevention and detection of crime, fraud or money laundering.

It may also be shared with a limited number of trusted finance partners, organisations and associates that BEF works with to support the provision of loan finance to you and other businesses.

Sensitive Personal Data

Some of the data we collect from you may be sensitive personal data, that is information about your health, gender, ethnicity or sexual orientation.

More details on how your data is used and managed can be found in our Privacy Notice on our website.

We make every effort to ensure that your personal data is always protected, stored securely and used safely.

Statement of Truth

By signing these Terms of Engagement you confirm that all the information you will provide will be a true and honest reflection of your business and personal finances. By misleading or giving false information in the process of this application you may be guilty of a criminal offence. If you are in the process of or intending to begin insolvency proceedings, such as an Individual Voluntary Arrangement (IVA), Company Voluntary Arrangement (CVA), Bankruptcy or have been recently issued with a Statutory Demand or Winding Up Petition or any similar process or are negotiating a Time To Pay Arrangement or similar with HMRC and do not disclose this fact at this stage then you may also be guilty of a criminal offence.

BEF Group’s policy is to pursue prosecutions in such situations vigorously