Rutland and Melton companies can now apply for a convertible loan of between £125,000 and £5 million to support continued growth and innovation in diverse sectors from life sciences to the creative industries.
Rutland and Melton MP Alicia Kearns has welcomed the news that applications for the fund are now live and is encouraging local businesses to consider whether this fund could benefit them.
The government has made an initial £250 million available for investment through the Future Fund scheme and will consider increasing this if needed.
Private investors – potentially including venture capital funds, angel investors and those backed by regional funds - will at least match the government investment in these companies.
Rutland and Melton MP, Alicia Kearns, said:
“The Future Fund is fantastic news for high growth and innovative businesses and entrepreneurs in Rutland and Melton. I am pleased it will bolster these firms throughout the pandemic so they not only survive but thrive in the future.”
The Fund will be open until September and is delivered in partnership with the British Business Bank.
Alicia Kearns continues to advocate for local businesses to ensure their needs are met during the pandemic.