An organisation has lent millions of pounds to SMEs, predominantly in the north of England, in the year to March, as its social impact report reveals.

The Business Enterprise Fund (BEF) lent £21.8 million to SMEs from April 2024 to March 2025.

According to a spokesperson for the BEF, the investment has “created or safeguarded 5,096 jobs.”

The BEF offers loans from £500 to £250,000, and is a Business Support Partner of the government-backed Start Up Loans programme.

The organisation also delivers Northern Powerhouse Investment Fund II Smaller Loans across Yorkshire and the Humber.

Stephen Waud, CEO of BEF, said: “It’s been another brilliant year of supporting businesses, predominantly across the north, and we’re proud to share these figures in our social impact report.

“To us, it’s not just about filling in forms or completing credit checks, it’s about really getting to know business owners, understanding their goals and how we can best support them.”

During the past 12 months, the BEF has also raised more than £10,000 for Bradford charity One In A Million.

The BEF’s social impact report for the period from April 2024 to March 2025 is available to read at www.befund.org/our-impact