Guidance

Apply for the coronavirus Future Fund

This scheme will issue convertible loans between £125,000 to £5 million to innovative companies which are facing financing difficulties due to the coronavirus outbreak.

From:
Department for Business, Energy & Industrial Strategy, HM Treasury and British Business Bank
Published
20 April 2020
Last updated
2 November 2020 — See all updates

This guidance was withdrawn on

The Future Fund scheme closed to new applicants on 31 January 2021. The online portal remains open for investee companies with legally completed convertible loan agreements (CLAs) to submit information.

The Future Fund provides 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 an option for businesses that rely on equity investment and are unable to access other government business support programmes because they are either pre-revenue or pre-profit.

The scheme is open for applications until 31 January 2021.

Eligibility

Your business is eligible if:

  • it is UK-incorporated - if your business is part of a corporate group, only the parent company is eligible
  • it has raised at least £250,000 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
  • it was 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

Check your eligibility.

How to apply

The scheme is being delivered by the British Business Bank.

Find out how to apply

Updates to this page

Published 20 April 2020
Last updated 2 November 2020 + show all updates

  1. The application deadline has been extended to January 31 2021.

  2. The Future Fund is now open to applications.

  3. Convertible Loan Agreement added. The Future Fund opens to applications on Wednesday 20 May.

  4. First published.

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