This scheme will issue convertible loans between £125,000 to £5 million to innovative companies which are facing financing difficulties due to the coronavirus outbreak.
Written on April 7, 2020 by Xeinadin Group
This scheme is not available yet. It will launch in May 2020.
The Future Fund will provide government loans to UK-based companies ranging from £125,000 to £5 million, subject to at least equal match funding from private investors.
These convertible loans may be a suitable option for businesses that rely on equity investment and are unable to access the Coronavirus Business Interruption Loan Scheme.
The scheme will be delivered in partnership with the British Business Bank.
The headline terms setting out the main features expected to apply to the loans are attached at the bottom of this page.
You’re eligible if your business:
- is based in the UK
- can attract the equivalent match funding from third-party private investors and institutions
- has previously raised at least £250,000 in equity investment from third-party investors in the last 5 years
Full eligibility criteria will be published shortly.
How to apply
The Future Fund will launch in May 2020. Further details about this scheme will be published shortly.
Learn more: https://www.gov.uk/guidance/future-fund