Innovate UK Innovation Loans
Open continuously
No deadline — apply whenever you are ready.
Loans range from £100,000 to £5 million. Interest rate 7.4% per annum: 3.7% pa payable during the project period on amounts drawn with a further 3.7% pa deferred; 7.4% pa payable during the repayment period alongside repayment of principal and deferred interest. Loans can cover up to 100% of eligible project costs.
You must co-fund 0%.
Innovate UK (UK Research and Innovation)
public · national
Deadline: rolling — Expression of Interest route with no submission deadline; the team contacts applicants after an EOI is submitted.
This funder does not publish a success rate. We rank it using the rate observed across similar programmes and label it as an estimate rather than implying we know.
Moderate — a form and supporting documents.
Who can apply
- Up to 250 employees
- medium enterprises
- Sectors: deeptech, manufacturing, climate, health, any
- Stage: series_a, growth
- R&D activity required
- Locally registered entity required
UK registered micro, small or medium sized enterprises only, carrying out late-stage R&D (experimental development) and pre-commercial activities. Aimed at businesses 'scaling rather than starting' that are credit constrained. Covenants apply: liquidity ratio 1.1x throughout the loan and debt service coverage ratio 1.2x in the repayment period. Funding provided under the UK Subsidy Control Act 2022; Windsor Framework restrictions apply to Northern Ireland businesses.
How to apply
- Complete an Expression of Interest. — link
- Innovate UK Loans contacts you to discuss suitability; full application follows.
- Provide historic and forecast financial information for credit assessment.
- If approved, grant security by mortgage debenture (fixed and floating charge over company assets); no personal guarantees required.
What you will need
- Expression of Interest form
- Historic and forecast financial information
- Annual accounts and quarterly management accounts
Source. https://iuk-business-connect.org.uk/programme/innovation-loans/ — checked 2026-08-14
"Loans can range from £100,000 to £5 million and are offered on flexible, patient terms for businesses that are beyond the early stages of development ... The interest rate is 7.4% per annum (pa)."