Innovate UK Innovation Loans
Innovate UK Loans Ltd
What it funds
Below-market loans of £100,000-£2m for SMEs commercialising late-stage R&D — interest partly deferred during the R&D phase.
Who can apply
UK SME with a late-stage innovation project close to market, able to evidence ability to repay; applications in periodic rounds.
Key criteria
- SME (under 250 employees)
- Late-stage R&D / commercialisation project
How to apply
Apply in open rounds via the Innovation Funding Service; credit evaluation alongside innovation assessment.
Evidence you'll need
- Project plan
- Financial forecasts demonstrating repayment
- Accounts
Last checked against the official source within the last 7 days. Scheme parameters are set by the funder and can change — verify before applying, or let us do it for you.
Related schemes
Innovate UK Grant Competitions
Innovate UK
Rolling portfolio of themed R&D grant competitions for UK businesses, typically funding 25-70% of project costs across feasibility, industrial research and experimental development.
Knowledge Transfer Partnerships (KTP)
Innovate UK / UKRI
Funds a high-calibre graduate (Associate) plus academic team embedded in your business for 12-36 months to deliver a strategic innovation project. SMEs typically pay ~33% of project costs.
R&D Tax Relief (Merged Scheme & ERIS)
HMRC
Corporation tax relief on qualifying R&D expenditure. Merged scheme gives a 20% above-the-line credit (~15-16% net); loss-making R&D-intensive SMEs can claim enhanced support (ERIS) worth up to ~27p per £1 of qualifying spend.