Package of support due to launch to assist innovative companies
Future Fund is a scheme that will issue convertible loans between £125,000 to £5 million to innovative companies which are facing financing difficulties due to the Coronavirus outbreak.
The 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.
You’re eligible if:
- Your business is based in the UK
- Your business can attract the equivalent match funding from third party private investors and institutions
- Your business has previously raised at least £250,000 in equity investment from third party investors in the last five years.
Full eligibility and how to apply will be announced in due course. As soon as we have more information we’ll be sure to update you.
The information was correct at time of publishing but may now be out of date.