A new fund, the Future Fund, has been announced by Government to support earlier stage businesses that are unable to access the Coronavirus Business Interruption Loan Scheme (CBILS). The funding will be provided by way of a convertible loan note of between £125,000 and £5m per application. All funding must be matched by third party investors.
Helping you secure a Future Fund loan
In order to achieve your Future Fund loan, investment is going to need to be negotiated from your existing or new private investors. Doing this whilst running your business isn’t going to be easy. However, we are here to help. You can appoint us to manage this process for you from front to back, whilst you get on with building your business for the future.
What does our Future Fund support service provide?
- Right first time. We have significant experience working with both private investors and the Government support programmes provided by the British Business Bank. We are perfectly placed to bring together your round quickly and efficiently.
- Maximise support. We can make sure your plan and request for funding demonstrably maximises the support offered by the Government before entering into expensive bridge financing. We have a working knowledge of the Coronavirus Job Retention Scheme, VAT deferrals, Time to Pay arrangements, rates relief and other initiatives.
- Robust forecasts. Whilst your forecasts will always be your own, we can advise you on the revenue deferrals and cost mitigations that investors consider reasonable and acceptable when presenting your projected cashflows as part of a robust financial model to support the round.
- Founder protection. We can help ensure that dilution on Founders and management is minimised. Both through incentive and option schemes and by enhancing valuations on future rounds.
- Resource allocation. You may have more pressing things you need to deal with in your business that you cannot outsource. We can be the extension of your team that manages much of the Future Funds bridging loan process for you.
Important things to consider
- You are welcome to manage your matched funding round yourself and apply for your Future Fund loan via the British Business Bank with no need to incur a fee.
- Demand is expected to be high so investors will be looking for applications that are well-considered with robust supporting information.
- You should also try and secure the necessary private investment as soon as possible so you are able to apply to the Future Fund as soon as it opens.
How much does the Future Fund Support service cost?
Our fees are set out in our Future Fund FAQs page. We have offered substantial discounts to our normal fees to support the SME community.
What should I do next?
If you would like us to help your business access funds under the Future Fund scheme please complete our application form by clicking the button below.
A member of our team will endeavour to discuss your Future Fund application within 24 hours of submission. However, due to the high demand of this service, we may take slightly longer to come back to you.