2021 INNOVATE LOANS FOR UK SME’S

As part of our coronavirus response package Innovate UK has approved approximately £77 million in innovation continuity loans to nearly 100 small to medium-sized enterprises (SMEs).  

Innovation loans aim to provide flexible and patient capital to support business growth through innovation. 

These loans will be delivered through Innovate UK Loans Ltd, a wholly-owned subsidiary of UK Research and Innovation. Innovate UK is working to broaden the range of innovation finance support available to businesses, so they can access funding at all stages of innovation. 

 

BUSINESS REQUIREMENTS 

  • Your business must be registered with Companies House.  
  • You will carry out the bulk of your project work.  
  • You will exploit the results from in the UK. 

APPLICATION REQUIREMENTS 

  • Only one business can apply per application.  
  • You may subcontract work to an individual or organisation as part of the project if you can justify why doing so is critical to the delivery of the project. 
  • You can apply more than once, as long as it’s not for the same project, and that your previous project can be proved successful. 

 

COMPANY SIZE 

For more information on company sizes, please refer to the company accounts guidance 

 

This is the Gov.UK page with further information:  

https://www.gov.uk/guidance/innovation-loans-general-guidance-for-applicants#understanding-if-your-business-is-eligible-for-an-innovation-loan 

 

LOCAL BUSINESSES 

For our local area we have included a link to Innovationvouchers.com   

The criteria is that you must have a registered or trading address in one of the target LEP areas; Birmingham, Solihull, Redditch, Bromsgrove, and Wyre Forest. 

 

WE CAN HELP 

If you are thinking of transforming your systems with your loan, we can help you with your legacy platform, speeding up processes and/or switching to a cloud platform

We are here to help and we also have a good understanding of the grant process, so do call us: 01299 382 957 

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