If your business has been struggling due to the widespread effects of COVID-19, then the Coronavirus Future Fund may be the right solution for you.
From May 2020, innovative UK based companies will be eligible for this new Government loan. The Coronavirus Future Fund offers companies between £125,000 – £5M to help them manage the disruption to their business caused by the pandemic.
The loan is subject to matching funds from investors. This makes it a great option for businesses that rely on equity investment and so are unable to access the Coronavirus Business Interruption Loan Scheme.
A business is eligible if:
- It’s based in the UK
- It can attract the equivalent match funding from third-party private investors and institutions
- It has previously raised at least £250,000 in equity investment from third-party investors in the last 5 years
Full eligibility criteria will be published soon. In the meantime, you can find out more information on the Government website.
If your business could benefit from this scheme, please reach out to us today. The Tide Group can help manage your application and ensure that you receive fast and efficient funding at this crucial time.