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: Devere House, Vicar Lane, Little Germany, Bradford, BD1 5AH
These Terms of Engagement and the information therein apply to all BEF Group companies and associated funding providers.
Telephone Number: 0800 080 3145.
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.
You can find out more about Personal Guarantees and EFG on our website in the Legal Information section.
You are strongly advised to obtain independent legal advice on all securities required
The Borrower agrees to provide BEF Group promptly with such financial or other information as BEF Group may from time to time reasonably request to enable BEF Group to understand and assess the financial position and performance of the Borrower’s business. These include access to bank statements and the provision of management accounts to a satisfactory standard.
The borrower agrees to provide BEF Group with job creation, employee segmentation and other non-financial information which may be required from time to time by our funders.
You must pay all reasonable costs and expenses incurred by BEF Group as a result of you defaulting on your repayments or breaching the loan agreement. In the event of non-payment, BEF Group may use a debt recovery agent, our in-house legal team / external solicitors to recover any monies owed by you and you will be required to pay the full amount of any fees charged, costs, expenses or disbursements incurred as a result of your non-payment.
If you fail to respond to communications sent to you or in the course of Recoveries work, BEF Group may instruct Trace Agents or carry out credit checks on you to confirm your address and situation. (See Section 9 - Disclosure Declarations for further information on Credit Checks.)
In the event that a Court judgment is obtained any costs incurred by BEF Group after obtaining judgment may be added to your total judgment debt so that you may have to pay us both the amount of the judgment and our further costs and expenses until you have paid these in full. This means that even if you pay off the whole amount of the judgment you may still have a further sum to pay. In the same way, interest may be applied at the statutory rate to any outstanding balances after judgment has been obtained.
BEF Group will pursue all avenues available to secure repayment of the loan in the event of default or business failure.
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 in the Fees and Charges 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
Personal Credit Checks
By signing the Terms of Engagement you agree to BEF Group completing a credit check on you.
A credit assessment and Credit Check will be carried out on both the company and all directors and applicants as individuals. If you are supporting the application by providing a personal guarantee we will also carry out a full personal credit check on you as part of our credit assessment. 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
By signing the Terms of Engagement you are accepting that the information you give may be used for the purposes of preventing and detecting crime and that any misleading statements (whether deliberate or accidental) given at any stage during the application process may render the Application invalid and the Applicant(s) may be liable to return any money already paid out.
Your personal Data and how it will be used
As part of your application and the lending process BEF will collect personal data about you and your business. 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.
By signing these Terms of Engagement you are accepting that BEF Group will use your information in this way.
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.
By signing the Terms of Engagement you are giving us your consent to process any sensitive data.
More details on how your data is used and managed can be found in our Privacy Notice.
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
BY SIGNING THE TERMS OF ENGAGEMENT YOU AND YOUR COMPANY AGREE TO BE BOUND BY THESE TERMS AND CONDITIONS
WE STRONGLY RECOMMEND YOU SEEK LEGAL ADVICE BEFORE SIGNING OR CONFIRMING ACCEPTANCE OF THESE TERMS OF ENGAGEMENT