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<p>The Future Fund provides Government loans to UK-based companies, ranging from £125,000
to £5 million. In terms of eligibility, firms qualify for the loans as long as they
are able to attract at least equal match funding from private investors, and subject
to both firms and investors meeting all the requirements of the scheme. The scheme
was launched for firms who are at pre-profit or pre-revenue stage, and who may be
ineligible for the various COVID loan schemes, as these firms rely on equity finance
rather than debt. The Future Fund does not impose additional conditions on eligible
businesses.</p><p> </p><p>The British Business Bank, which manages the Future Fund,
has established strong due diligence processes which are built into the portal to
ensure firms and investors prove their eligibility. The portal also asks for documentation
from investors, firms, and their solicitors, to carry out ‘Know Your Customer’ and
anti-money laundering checks, as well as general fraud checks. These measures ensure
that fraudulent activity is avoided, in addition to ensuring that the funds have been
allocated correctly to the applicant.</p>
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