From 20 May 2020, Future Fund loan applications are now open for businesses affected by the coronavirus outbreak.
What types of businesses can apply for a Future Fund loan?
The Future Fund is designed to support innovative UK businesses and start-ups who typically rely on equity investment, including those in the technology, life sciences and creative industries sectors.
How much is the Future Fund loan amount?
Eligible businesses can apply for a convertible loan worth between £125,000 and £5 million, which must be at least matched by investors.
Future Fund eligibility checker
Your business may be eligible if it meets the below criteria:
- UK incorporated
- At least £250,000 raised 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
- Incorporated on or before 31 December 2019
- At least one of the following is true:
- half or more employees are UK-based
- half or more revenues are from UK sales
For full eligibility details, including investor criteria, click here.
What is the Future Fund application process?
The Future Fund is investor-led, meaning that a private investor (or investors) must apply in connection to a business.
The company must then confirm the information supplied, before submitting the full application.
To complete the Future Fund application form, visit British Business Bank.
Where can I access further advice?
If you are looking for support regarding the Future Fund, or any other coronavirus business support scheme, we are here to help. Please contact us (email@example.com) or speak to your usual Lubbock Fine contact.