A FUND providing cash for go-ahead businesses in Kirklees has smashed its one-year target.

It is 12 months since Business Enterprise Fund announced that it would commit to lend £1m to small businesses.

So successful was the scheme and so supportive were the accountants, solicitors and banks who signed up to it, that BEF beat its target by nearly 50%.

Supporters of the scheme included Bradford and Leeds Chambers of Commerce, HSBC, Barclays, Gordons Solicitors, Capital for Enterprise and Naylor Wintersgill Accountants.

Steve Waud, fund director, said: “In the grand scheme of things, £1.5m isn’t a lot of money compared to the lending that the banks do.

“But when considering the businesses that BEF has helped, one can see that it has gone a long way and done a lot of good.”

Thanks to the work of BEF, which includes expert mentoring as part of the loan agreement, 52 new businesses were started, 75 new jobs were created, 159 jobs were sustained and 24 existing businesses received the support they needed to stay open.

To celebrate and build upon the results of last year’s campaign, BEF has now announced an intention to repeat its success and commit to lend the SMEs of West and North Yorkshire £1.5m.

To help get the message out, a series of social events to encourage renewed support for the Lend a Million campaign will soon be underway.

BEF is a not-for-profit funder of businesses and provides loans from £500 to £100,000.

It works with banks and intermediaries to support those businesses unable to attract the financial investment they need to meet the business needs. Operating in North and West Yorkshire, BEF has loaned £4.65m in the last six years, supporting 230 businesses.

To register support for BEF’s campaign, go to www.befund.org or www.linkedin.com/groups