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Games financing firm Altara has added a new offer for developers, now providing loans against the UK Games Fund.
The £4m fund was set up by the Government last year, with applications opening in November. Several studios have already been awarded grants.
Developers can receive grants of up to £50,000, but the money is only paid after it has been spent. Altara Games’ loans will, according to the firm, “help developers cashflow their projects”.
The loan can be provided as soon as applications receive their offer letter from the UK Games Fund, and only needs to be repaid when the developer receives the grant money.
The deadline for UK Games Fund applications is Monday, April 18th, but devs can now get in touch with Altara to discuss potential loans.
“As with the VGTR loans we already provide, we are always looking for ways to further support UK studios to cashflow their projects, and ultimately to grow and develop new games,” founder Ella Romanos said.
“We were approached by some developers about potential loans against the UK Games Fund, and are very pleased that we are now able to provide this service. We believe the UK Games Fund is a crucial new funding opportunity for our industry and we are keen to support developers to access it.”
Altara Games also provides loans against Video Games Tax Relief. You can find out more at www.altaragames.com.
