Thursday, 23 April 2020

Coronavirus Future Fund for tech start-ups

The government has announced a new Future Fund scheme, issuing convertible loans to help start-ups struggling due to the coronavirus outbreak. The loans will range from £125k to £5million.

A convertible loan gives the government the option to convert the loan to shares.

The loans will be available from May until September. 

It is important to note the future fund will only be available if a business is unable to access the CBILS.

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

Visit https://www.gov.uk/guidance/future-fund for more information. 

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