Tag: Business Funding

Business Enterprise Fund commits funding for struggling UK businesses

SME Loans

The not -for-profit social enterprise has committed funding to support businesses during the coronavirus (COVID-19) outbreak.

Business Enterprise Fund (BEF), the not-for-profit social enterprise is an approved delivery partner of the British Business Bank and will provide their funding to support SMEs where needed.

The Coronavirus Business Interruption Loan Scheme (CBILS) is the new guarantee scheme that facilitates lending to smaller businesses across the UK who are experiencing lost or deferred revenues.

In addition to CBILS, BEF can deliver short-term working capital loans of up to £250,000 to safeguard businesses and staff, as well as start-up loans, with £12m of additional funding secured from Impact investors. CBILS also covers the Northern Powerhouse Investment Fund (NPIF) which is £10m of further British Business Bank funding for businesses in the Yorkshire & Humber Region.

Stephen Waud, CEO of BEF, comments: “As a responsible finance provider our mission is to support and help communities and SMEs are critical to those communities, especially now as jobs and livelihoods are at risk.”

“We have been getting inundated with business owners looking for support and so I’m pleased to assure them that we will be supporting you as best we can as a non-bank can in these hard times”.

BEF provides funding, support and advice for growing businesses across all sectors. Its aim is to deliver flexible finance to businesses in geographical areas that need it most, by providing unsecured business loans when other lenders cannot fully assist. It is a subsidiary of the West and North Yorkshire Chamber of Commerce who are committed to supporting business in those regions.

With a track record of supporting early stage and start-up businesses, BEF has supported a diverse range of businesses and social enterprises from sustainable clothing, to seaweed farms, to fintech start-ups. Last year alone, the company funded 175 brand new businesses.

Find out more about the Coronavirus Business Interruption Loan Scheme (CBILS) support available from BEF.

BEF Helps Learning Mentor Make Her Mark

BEF Helps Learning Mentor Make Her Mark

Thursday 7th October 2019

Andrea Page helps young children find their inner mojo thanks to a Start Up loan from BEF.

Andrea Page is a learning mentor based in Leeds, West Yorkshire with a passion for helping young children across Yorkshire learn new skills essential to their success within the education system and the world at large.

“The world we live in is so challenging and different from when I was young, I see so many children struggling to come to terms with this environment” she says. “My biggest joy is knowing that I make a difference to a child’s life now and in the future.”

As a learning mentor, Andrea works with children aged 5-8 within primary schools as well as running independent classes. She uses a blend of child psychology, art, music, breathwork and stories to equip young children with the tools and strategies in which to express their emotions safely and effectively.

Like many start-up business owners, Andrea’s initial challenge was to acquire the finance to setup her business and complete the required accreditation to become an Inamojo™ facilitator.

Thanks to a £6,000 Start Up loan delivered by BEF in December 2018, Andrea setup her business, completed the required Inamojo™ accreditation and banked enough cashflow for the early months of trading.

Speaking of her experience with BEF, Andrea said: “The loan allowed me to bring my dream to fruition. Without it, I wouldn’t have been able to start my business. Rupert Shires, my Start Up Loan Manager has been awesome. He took time to understand my project and then provided easy to understand and practical advice, not only about getting the loan but how best to survive the early stages of a new business.”

Rupert Shires, Start Up Loans Manager at BEF, said: “It was a pleasure to work with Andrea as Inamojo™ is an innovative and exciting programme that makes a demonstrable difference in the lives of young children. I wish Andrea every success as she works to impact the lives of young children.”

Andrea offers good advice to anyone dreaming of starting a business: “If you have a dream to make a difference in the world, there are organisations out there who will support you. You might think that you don’t have the experience or expertise to start your own business but there is support out there if you only go out and find it.”

For more information on the Inamojo™ wellbeing program visit http://inamojo.com/ or email Andrea at apagealt@gmail.com.

Story taken from: www.befund.org