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Unclaimed
Discovery tool, not advice. Every figure is the published rule, not a decision on your case.
Loans

Innovate UK Innovation Loans

Status

Open continuously

No deadline — apply whenever you are ready.

Always open
Amount
£5,000,000

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%.

Funder

Innovate UK (UK Research and Innovation)

public · national

Deadline: Open all year — Expression of Interest route with no submission deadline; the team contacts applicants after an EOI is submitted.

Your odds
Not published

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.

Effort
moderate

Moderate — a form and supporting documents.

Who can apply

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

  1. Complete an Expression of Interest. — link
  2. Innovate UK Loans contacts you to discuss suitability; full application follows.
  3. Provide historic and forecast financial information for credit assessment.
  4. If approved, grant security by mortgage debenture (fixed and floating charge over company assets); no personal guarantees required.

What you will need

Related reading: How grant deadlines actually work · The EU SME definition (Recommendation 2003/361)

Apply on the funder's site

Source. https://iuk-business-connect.org.uk/programme/innovation-loans/

"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)."

Verified on 14 August 2026

Source: iuk-business-connect.org.uk

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