Posted Thursday 7th May 2020
Updated Thursday 10th June 2021
The Future Fund support package, designed to assist early stage companies who were severely impacted by the COVID-19 crisis, was withdrawn in February 2021.
The scheme was targeted at early stage or scale up phase companies, providing convertible loans ranging from £125,000 to £5 million subject to equal match – or higher – funding from private investors.
For companies that participated in this scheme, the conversion mechanic remains as follows:
We have acted for several clients already whose loans have converted upon them completing a qualifying finance round, so if you require assistance on the conversion of your future fund loan, please do not hesitate to contact us.
Even if your company missed out on the opportunity to participate in the Future Fund scheme, you may still be able to apply for a loan under the Recovery Loan Scheme.
This article is for reference purposes only. It does not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking or deciding not to take any action.