Innovate UK Innovation Loans
Innovate UK
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: 3 Jul 2026. Scheme parameters are set by the funder and can change — verify before applying, or let us do it for you.
Related schemes
Analysis for Innovators (A4I)
Innovate UK
Periodic programme giving businesses funded access to national measurement laboratories (NPL, LGC, NEL) to solve productivity, quality and measurement problems no commercial lab can crack.
Growth Guarantee Scheme
British Business Bank
Successor to the Recovery Loan Scheme: government-backed guarantee enabling term loans, overdrafts and asset finance up to £2m for smaller UK businesses through accredited lenders.
Business Growth West Midlands Programmes
West Midlands Combined Authority
Regional business-support service for West Midlands SMEs with funded advice and periodic capital/revenue grant programmes (historically £2.5k-£100k waves) for growth, decarbonisation and digital projects.