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BEF reaches £5 million CBILS lending milestone

 

Author: Business Enterprise Fund

The responsible finance provider helps 144 businesses save 720 jobs.

Responsible finance provider, Business Enterprise Fund (BEF), has provided over £5 million in Coronavirus Business Interruption Scheme (CBILS) support to businesses affected by the COVID-19 pandemic.

 The Bradford-based, not-for-profit social enterprise delivered one of the first CBILS loans in the UK and completed its fastest CBILS loan in 5 working days. It has supported over 144 businesses and helped save 720 jobs since the launch of CBILS on 23 April.

 BEF worked closely with Big Society Capital, the British Business Bank and the Northern Powerhouse Investment Fund (NPIF) to ensure funds were available to support as many businesses as possible.

 Speaking of the latest milestone, BEF CEO, Stephen Waud, said: “I’m proud our of response to the challenge of supporting businesses with much needed working capital. Our team of 21 have worked hard to deliver £5m of CBILS support to businesses across the North and as far South as Oxford and Orpington.”

 “We are a member of the responsible finance sector which has delivered £15m of CBILS support to businesses across the UK. True to its ethos, the sector has helped businesses access vital cashflow when banks wouldn’t.”

As an accredited CBILS lender, BEF offers CBILS support from £50,001 to £150,000. For more information, please visit our website or contact our North East Investment Manager, Lee Vickers, directly via email lee.vickers@befund.org