Harrison Young logo Incorporating Harrison Young

Future Fund launches to give start-ups coronavirus support

The government has launched its Future Fund package, which aims to support start-up businesses not eligible for other coronavirus (COVID-19) rescue measures.

Call 020 7703 7594 or email info@pjtandco.com

The government has launched its Future Fund package, which aims to support start-up businesses not eligible for other coronavirus (COVID-19) rescue measures.

The Future Fund offers government loans of between £125,000 and £5 million to UK-incorporated companies, provided private investors at least match the funding supplied by the state.

The package is aimed at innovative early stage companies not eligible for existing COVID-19 support, and overall the fund will match up to £250 million of private investment. Chancellor Rishi Sunak told MPs that he would be 'more than happy' to increase the funding available should the scheme prove popular.

The Future Fund is administered by the government-backed British Business Bank (BBB). The loans can be repaid or converted into discounted equity if they are not – making the government a direct shareholder in UK start-ups should the latter occur.

There is no requirement to value the company, and when companies and investors have completed an application through the BBB portal, they should receive funds in an estimated two weeks. The fund is currently due to run until at least the end of September.

More guidance on the Future Fund, including eligibility criteria, can be found here.

About our Team

Our partners have individual specialisms which enable us to provide clients with a first class tailored service

Learn more

Latest news
Contact Details

Please call:
020 7703 7594
020 8767 0151 (HY)

PJT and Co
Chartered Certified Accountants
Accountancy House
90 Walworth Road

London SE1 6SW

Home | Contact us | Site map | Accessibility | Disclaimer | Help |

© 2020 PJT and Co Chartered Certified Accountants. All rights reserved. powered by totalSOLUTION.

We use cookies on this website, you can find more information about cookies here.