The Future Fund launches today, here Juliet Rogan, Barclays Head of High Growth & Entrepreneurs Coverage, explains the headline terms and how to apply.
The Future Fund is a new bridge scheme to issue convertible loans to startups and other innovative companies struggling due to the Coronavirus outbreak.
The scheme will initially make up to £250 million available in total. The government will keep this amount under review and it will be delivered in partnership with the British Business Bank. It will stay open until the end of September 2020, but it is on a first come, first served basis.
It is also important to note that match funding is not compatible with EIS or SEIS investment.
Watch below to find out what else you need to be aware of.
You can read the full terms of the fund in our factsheet here.