social impact report & annual statement

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: 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.

1)    Who We Lend to:

2)    Application Process  

3)    Arrangement Fee

4)    Securities

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

5)    Repayments

6)    Performance Monitoring

7)    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 

8)   Fees and Charges

The information below provides details of the internal charges made by BEF Group in respect of actions and events that may occur during the course of your loan agreement including legal action. 

Loan arrangement fee: 3.5% of loan amount, payable prior to drawdown by Cheque or BACS. (subject to a minimum of £50.00). 

4% of loan amount for 12-month Short Term loans.

Early settlement fee:  Refer to the Terms and Conditions of your Loan Agreement.

Overpayments: In any one year overpayments are permitted up to 5% of the original mount of capital advanced.


Company Debenture: £275 (per item)

2nd charge on land: £275 (per item)

Chattel Mortgage: £275 (per item)

First Charge/ Property Purchase: £375

If more than 3hrs work is done by our legal and admin teams in arranging the security then the fixed fee will no longer apply, you will be notified and charged at the appropriate hourly rate below.


The following rates will apply for work done by BEF’s in-house team. Work will be recorded in time segments of 10 minutes and charged to the loan account.

Qualified Lawyer: £150 per hour

Trainee Lawyer & Paralegals: £100 per hour

Administration Staff: £60 per hour

Enterprise Finance Guarantee: 2% per annum of outstanding capital. Paid via quarterly fee by direct debit to scheme administrators


Variation to Loan Agreement: £30

Default Notice: £25

Termination Letter: £25


Any legal costs and expenses reasonably incurred by BEF in respect of a loan agreement properly entered into will normally be passed onto the Client. Except where such costs and expenses result from the Fund’s own negligent acts or omissions.

9)   Data Protection and Disclosure Declarations  

I hereby agree to be bound by the Terms & Conditions of Business & Enterprise Finance Limited.