Innovation Loans Expression of Interest
Loans for UK SMEs to fund late-stage R&D projects with strong commercial and societal impact, supporting innovation close to market in key industrial sectors.
Funder: UK Research and Innovation
Due Dates: Opened June 6, 2026 | No submission deadline (Rolling)
Funding Amounts: Loans from £100,000 to £5 million per project; up to 100% of eligible costs; total fund £20 million; up to 5 years project + 5 years repayment (max 7 years total).
Summary: Loans for UK-registered SMEs to support near-market, late-stage innovation projects with strong commercial and societal impact potential.
Key Information: Open-ended competition; applications accepted any time; only single SME applicants eligible.
Description
This opportunity supports UK-registered micro, small, or medium-sized enterprises (SMEs) with loans for highly innovative, late-stage research and development (R&D) projects that are close to market and have strong commercial potential. Projects must significantly improve the UK economy and deliver societal benefits through innovation. Funding is provided as a loan, not a grant, and is aimed at businesses unable to secure suitable finance elsewhere. The scheme is delivered by Innovate UK, part of UK Research and Innovation (UKRI).
