UK FF Nominees Limited is the legal titleholder to the Future Fund’s loans and any shares resulting from their conversion. on the occurrence of certain conversion events as set out in the convertible loan agreement, the loan will convert into shares in the capital of the company.once the application is accepted, UK FF Nominees Limited enters into a convertible loan agreement with the company and the other investors.information about the lead investor and the other investors is used by the portal to conduct certain loan checks, to compile legal documentation for execution to the lead investor and the other investors.the investee company provides and verifies information during the later stages of the application.a lead investor initiates an application and is permitted to provide information on behalf of an investee company and other investors, provided the lead investor has obtained the consent of the others to do so.The Future Fund is a government scheme, managed through an agreement between DBT and British Business Financial Services Limited (a wholly owned subsidiary of BBB), designed to support UK-based companies facing financing difficulties due to the coronavirus pandemic. DBT owns the schemes and guarantees the loansĪll 3 parties are data controllers for the personal data they process under the loan schemes.accredited lenders process the loan applications and offer finance.BBB accredits lenders and works with them to deliver the loan schemes.These COVID-19 loan schemes provide finance to businesses facing disruption because of the coronavirus pandemic. COVID-19 loan schemes: background CBILS, CLBILS, BBLS and RLS This notice, together with the British Business Bank privacy notice, other DBT privacy notices and the DBT Personal Information Charter, explains your rights, and the reasons we are using your information. We are required under data protection legislation to notify you of the information contained in this privacy notice. This means that we are responsible for deciding how we hold and use personal information about you. This notice describes how we collect and use personal information about you in accordance with data protection law, including the UK General Data Protection Regulation (UK GDPR) and the Data Protection Act ( DPA) 2018.ĭBT is a data controller. Coronavirus Large Business Interruption Loan Scheme ( CLBILS)ĭBT is committed to protecting the privacy and security of your personal information. ![]() Coronavirus Business Interruption Loan Scheme ( CBILS). ![]() ![]() It includes the following schemes delivered by the British Business Bank ( BBB): This privacy notice is for anyone who has dealings with the Department for Business and Trade ( DBT) in connection with a financial product provided under the COVID-19 loan schemes (including convertible loan products).
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