Social enterprise provides boost for region’s economy
A social enterprise which specialises in lending flexible finance to businesses has boosted the region’s economy by £ 39m in the last year.
The Business Enterprise Fund ( BEF) has released its 2017 – 2018 social impact report, which also reveals the lender helped to create or safeguard 985 jobs.
It helped to launch 179 businesses across West and North Yorkshire and the North East.
As a micro- finance fund manager for the Northern Investment Powerhouse Fund ( NPIF) and delivery partner to the Start Up Loans Company, BEF has loaned £ 8.8m in 12 months and provided 4,000 hours of support to business owners. BEF has offices in Bradford, Leeds, York, Goole and Teesside,