The Future Fund scheme will issue convertible loans between £125,000 to £5 million to
innovative companies which are facing financing difficulties due to the
coronavirus outbreak.
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 31 January 2021.
A
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:
· 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:
o
half or more employees are UK-based
o
half or more revenues are from UK sales
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