COVID-19: Future Fund convertible loan scheme - Updated: 23 Sept. 2020
Coronavirus: Future Fund convertible loan scheme
The Future Fund convertible loan scheme offers convertible loans to high growth innovative companies who are facing financial difficulties due to the COVID-19 outbreak.
The new scheme is administered by the British Business Bank and will offer unsecured bridge government funding of up to 50% of the total bridge funding being received by a company, where the remaining amount is being provided by private third-party investors.
The scheme 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 was launched on 20 May 2020. It will is delivered in partnership with the British Business Bank.
UPDATE 30 June: Changes have been made to the scheme conditions so that UK companies who have participated in highly selective accelerator programmes which required then to have non-UK parent companies are now eligible to apply for investment. However the 'substantive economic presence in the UK' condition must still be met by the company applying for investment.
COVID-19: Government support tracker
This tracker covers measures announced by the government to support individuals and businesses, as we get through COVID-19.
Guidance: Apply for the coronavirus Future Fund
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