text: Updated guidance on the Coronavirus Future Fund - UHY Hacker Young .
  Home Resources & publications COVID-19 blog Updated guidance on the Coronavirus Future Fund
  The Government has launched the Future Fund to provide convertible loans of between £125,000 and £5m to UK-based companies, subject to at least equal match funding from private investors. The Fund is most suitable for innovative businesses which are facing financial difficulties due to the coronavirus outbreak, and who typically rely on equity investment and are unable to access other government business support programmes because they are either pre-revenue or pre-profit. AIM quoted companies will not qualify, nor will companies with shares admitted to trading on any other similar market, stock exchange or listing venue.
  Outline terms and conditions are as follows (based on the outline convertible loan note agreement):
  8% interest rate on the convertible loan
  20% discount to equity price on conversion
  Quarterly reporting requirements for Companies
  The scheme is likely to see the Government take significant stakes in these companies in the medium term.
  The British Business Bank is delivering the scheme.
  View the updated guidance at https://www.gov.uk/guidance/future-fund
  Please see our video introduction of the guidance by Helen Cowley as well as our earlier blog on 20 April for further insights.