Business Enterprise Fund

Business Enterprise Fund (BEF) delivers government-backed Start Up Loans to new and early-stage businesses in Yorkshire, the Humber, and the North East. Over the last 11 years, BEF has helped over 2,170 UK businesses access funding through the Start Up Loans programme.WHAT IS A START UP LOAN? A Start Up Loan is a personal loan tailored to individuals eager to launch or expand a UK-based business. This unsecured loan eliminates the need for collateral or guarantors, making it an accessible and flexible financing option. It is a great alternative for people looking for a business loan to fund a start-up. A Start Up Loan can be spent on a wide range of things related to your business, like equipment and stock, premises, marketing, and promotional expenses to name just a few. Key features: Loan amount: Up to 25,000 per individual, with a maximum of 100,000 per business Interest rate: Fixed 6% per annum Repayment term: Flexible one to five years Fees: No arrangement or early repayment fees Mentorship: 12 months of complimentary post-loan mentoring Partner eligibility: Up to four partners can apply per business Restrictions: Debt repayment: Cannot be used to refinance existing debt Training expenses: Excludes funding for training, qualifications, or education programmes Investment opportunities: Not applicable for speculative investments beyond sustainable business operations Please note that other exclusions may apply. The Start Up Loans Company reserves the right to update this list at its discretion. REPRESENATIVE EXAMPLE: 11,000 loan repayable over five years 60 monthly payments of 212.66 Fixed interest rate of interest 6% per annum Total amount of credit: 11,000 Total interest payable: 1,759.60 Total cost of credit: 1,759.60 Total amount payable is 12,759.60This is an illustrative example of a loan of 11,000. Loans of up to 25,000 are available from the Start Up Loans scheme.Eligibility requirements Age: 18 years or older Residency: Current UK resident Business status: Starting a new business or trading for up to 36 months (three years) Alternative financing: Unable to secure finance from other sources Business location: Based in the UK Work authorisation: Right to work in the UK Business compliance: Adheres to scheme guidelines Creditworthiness: Passes credit checks and demonstrates affordability APPLY FOR A START UP LOAN Dont let financial limitations hinder your journey to success. BEF is here to support you every step of the way, providing the funding and guidance you need to transform your dreams into reality. Apply today.

Areas Covered: Bradford

Telephone number: 0800 080 3145

Website: https://www.befund.org