Future Fund Opens for Applications Tomorrow

Developed by government and delivered by the British Business Bank, the Future Fund will help these companies through the current period of economic disruption and recovery, so they are able to continue their growth trajectory and reach their full economic potential. 

How it works:

– Open for applications from Wednesday 20^th May.

– Scheme operates on a commercial basis to deliver an initial commitment of £250m of new government funding.

– Financing will be unlocked by additional third-party investment on a match funded basis.

– Applications submitted via an online platform based on a set of standard terms and eligibility criteria.

Eligibility criteria:

– Companies must be UK-incorporated and if part of a corporate group, only the parent company is eligible.

– Companies in receipt of the loans will be required to have previously raised at least £250k in equity investment from third party investors in the last five years.

– Only eligible companies that can attract at least 50% of third-party investment will receive funding.

– Companies cannot have any of their shares traded on a regulated market, multilateral trading facility or other listing venue.

– The company must have been incorporated on or before 31^st December 2019.

– At least one of the following must be true for the company:

— Half or more employees are UK based;

— Half or more revenues are from UK sales.