The Government has launched a Future Fund scheme which will provide government loans to UK-based companies facing difficulty during the coronavirus outbreak. The loans range from £125,000 to £5 million, subject to at least equal match funding from private investors. The scheme will be available from May.
UK businesses driving innovation and development will be helped through the coronavirus outbreak with the £1.25 billion government support package. The comprehensive package includes a new £500 million loan scheme for high-growth firms and £750 million of targeted support for small and medium sized businesses focusing on research and development.
The Future Fund will issue convertible loans to innovative companies which are facing financing difficulties due to the coronavirus outbreak. The Future Fund will provide 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 a suitable option for businesses that rely on equity investment and are unable to access the Coronavirus Business Interruption Loan Scheme. The scheme will be delivered in partnership with the British Business Bank and will launch in May 2020.
To read more details about this new funding scheme please click on the link below: