Future Fund launches today
20th May 2020
HM Treasury announced today the launch of a Future Fund.
UK-based companies can now apply for a convertible loan of between £25,000 and £5 million, to support continued growth and innovation in sectors as diverse as technology, life sciences and creative industries.
- The Future Fund is open to UK-based firms, that have previously raised at least £250,000 in equity investment from third parties in the last 5 years. They will also need to have investors to provide funding to be matched by the government, and have half or more of their employees based in the UK or generate at least half of their revenue through UK sales. The loans will convert to equity if not repaid.
- Companies can check they meet the criteria for funding by going to the British Business Bank website. If they have secured private match funding, one of their investors can register online to start the application process.
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