Befund Foundation is a digital fund service platform that utilises blockchain technology but does not offer traditional lending services in the UK. Founded in 2017-2018, it focuses on providing technical solutions for cryptocurrency funds rather than consumer or business loans. Notably, it is not authorised or regulated by the UK Financial Conduct Authority (FCA). Those seeking regulated business loans in the UK may explore a range of options and detailed overviews available through Funding Agent.
Key Features of Befund Foundation
Befund Foundation offers a distinct model centred on blockchain infrastructure and digital asset management tools, diverging from conventional lending structures.
- Blockchain infrastructure aims to provide highly transparent fund services, differing from traditional business loans.
- Smart contracts facilitate programmatic transaction capabilities across a global, borderless platform environment.
- Open API design allows third-party developers to integrate and build on the platform, promoting ecosystem growth.
Funding Eligibility
Befund Foundation does not offer loan products and therefore has no lending eligibility requirements such as trading history or revenue thresholds. UK businesses interested in funding should refer to guides on qualifying for business loans and use eligibility checkers available through Funding Agent for conventional financing.
Loan Options
Since Befund Foundation offers no loan products, UK businesses can consider a variety of loan types available elsewhere through FCA-authorised lenders. Common options include:
- Unsecured business loans: Usually ranging from £1,000 to £500,000 with interest rates typically between 3% and 18% APR, suitable for a range of purposes without collateral.
- Term loans: Longer duration loans with fixed repayment schedules ranging from 12 to 84 months, commonly used for asset purchases or business expansion.
How to Apply
The Befund Foundation platform does not provide a loan application process. For conventional loans, typical application steps include submitting documents, providing business and financial information, and receiving decision notifications. Funding Agent offers resources to guide applicants through these steps efficiently.
- Submit an online application via a lender or intermediary platform; tools and forms can be found at Funding Agent's application form.
- Provide required documentation such as financial statements and proof of business operations; see the details under application requirements and document checklists.
- Review and accept loan offers once approved, with timelines varying by lender; learn more about the loan application process.
Funding Agent's View on Befund Foundation
Befund Foundation operates outside the regulated UK credit market and does not provide business or consumer loan products. Its focus on blockchain digital fund services means UK businesses seeking finance should explore FSC-authorised lenders verified on Funding Agent. Tools such as the eligibility guide, loan calculators, and comprehensive loan options comparisons can aid in finding suitable funding solutions.
