Innovate UK Innovation Loans
Loans for SMEs to support late-stage R&D projects with strong commercial potential, driving UK economy and societal benefits.
The deadline for applications is 11am on Wednesday 7 January 2026.
Who it is for
This competition is open to single applicants only. To be eligible, you must:
- be a UK-registered micro, small, or medium-sized enterprise (SME)
- carry out your project from or within the UK
- intend to exploit the results from or within the UK
- provide evidence that your business is suitable to take out a loan
- start your project by 1 May 2026
Support you can get
You can apply for a loan of between £100,000 and £5 million to fund highly innovative, close-to-market research and development (R&D) projects that:
- deliver new or significantly improved products, processes, or services
- propose innovative, original uses of existing products, processes, or services
- involve new or innovative business models
To be eligible, your project must also focus on one or more of the following themes:
- net zero
- health and wellbeing
- next generation digital technologies
- one of seven technology families identified in the UK Innovation Strategy
Your project must have a clear route to commercialisation and economic impact. It can last up to five years, covering R&D and pre-commercialisation, and may include prototyping, piloting, testing, or validation in real-world conditions.
Applicants receive tailored loan terms and must show a robust business plan, skilled team, risk management, and repayment ability.
Support organisers
- Innovate UK