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ARTICLE · 28 APRIL 2020

Coronavirus: Announcing The Future Fund

Gowling WLG
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On 20 April 2020 the UK Government announced the £500 million 'Future Fund', a Coronavirus related loan facility aimed at 'early stage' UK companies.

United KingdomCorporate/Commercial Law
Ian Piggin
Ian Piggin
Stephen Bowman
Stephen Bowman
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On 20 April 2020 the UK Government announced the £500 million 'Future Fund', a Coronavirus related loan facility aimed at 'early stage' UK companies.

The Future Fund is targeted at businesses unable to access the Coronavirus Business Interruption Loan Scheme, many of whom are at a development stage and ordinarily reliant on equity financing from seed, angel and venture capital investors as opposed to ordinary commercial lending. These businesses are finding it difficult, if not impossible, to satisfy the commercial lending criteria of the Coronavirus Business Interruption Loan Scheme (CBILS).

The Future Fund is due to launch in May 2020 and will be open until the end of September 2020.

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