Innovation Loans Expression of Interest
Innovation Loans Expression of Interest supports UK small and medium-sized businesses with loans for late-stage experimental development that advances commercialisation, economic impact and societal benefit.
Funder: UK Research and Innovation
Due Dates: October 9, 2026, 11:00am UK time (EOI closes) | January 2027 (Applications expected to resume)
Funding Amounts: £100,000–£5 million per loan; £20 million total fund; maximum seven-year loan term
Summary: Loans support UK SMEs undertaking close-to-market experimental development with strong commercial potential, UK economic impact and societal benefit.
Key Information: Only single UK-registered SMEs can apply, and projects must align with one of six eligible Industrial Strategy sectors.
Description
Innovate UK, part of UK Research and Innovation (UKRI), offers innovation loans for highly innovative, late-stage research and development projects with a clear route to commercialisation. Projects must create products, processes or services significantly ahead of existing alternatives, introduce innovative uses of existing offerings, or develop an innovative business model. Supported work must significantly improve the UK economy and deliver societal benefit.
The scheme provides affordable, patient and flexible finance through Innovate UK Loans Ltd. It targets micro, small and medium-sized businesses that can manage a loan but struggle to access suitable finance. Projects may include prototyping, demonstrating, piloting, testing and validation in realistic operating environments, alongside eligible pre-commercialisation activities. This Expression of Interest (EOI) is the first stage: approved applicants are invited to submit a full application.
