Launching 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 can be found here.
You will be eligible for the scheme is 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
Further details about this scheme will be published shortly.