Added on: 22nd May, 2020 by O1
Announced by the Chancellor on 20 April, the Future Fund issues convertible loans to innovative UK companies with good potential, that typically rely on equity investment and are currently affected by Covid-19.
The Future Fund provides 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 an option for businesses that rely on equity investment and are unable to access other government business support programmes because they are either pre-revenue or pre-profit.
The scheme is open for applications until the end of September 2020.
Your business is eligible if:
• it is UK-incorporated - if your business is part of a corporate group, only the parent company is eligible
• it has raised at least £250,000 in equity investment from third-party investors in the last 5 years
• none of its shares are traded on a regulated market, multilateral trading facility or other listing venue
• it was incorporated on or before 31 December 2019
• at least one of the following is true:
-half or more employees are UK-based
-half or more revenues are from UK sales
Check your eligibility HERE.
Find out how to apply HERE