Innovate UK’s Innovation Loans offer a powerful funding opportunity for single, UK-registered SMEs carrying out research and development (R&D) projects. Whilst these loans (as the name suggests) are repayable, Innovate UK offers attractive interest rates starting at 3.7%, with generous repayment terms, typically spread across 7 years. Innovate UK will fund up to 100% of eligible project costs for proposals which demonstrate strong market potential, credible delivery capability, a clear route to market and value for money. Applicants can benefit from this programme’s broad, unrestricted scope – any highly innovative product, process, or service will qualify. Businesses can apply to one of several annual funding rounds for a chance to secure large scale capital between £100k and £5 million.
