Print

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.

Conditions:

Eligibility

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.

Links 

COVID-19: Government support tracker
This tracker covers measures announced by the government to support individuals and businesses, as we get through COVID-19.

External link

British Business Bank Government Future Fund

Guidance: Apply for the coronavirus Future Fund