Innovate UK Innovation Loans Rd24: Q&A for UK SMEs

Your Questions Answered for Innovate UK Innovation Loans Round 24

A focused, Q&A drawn from the latest Innovate UK webinar to help CFOs and founders make fast, informed decisions. Always check the live competition brief for specifics.

Innovate UK Innovation Loans provide patient, flexible finance to UK-registered SMEs delivering late-stage R&D with a clear route to revenue. Unlike grants, loans can fund up to 100% of eligible project costs, including software, subcontracting and capital where justified, and are assessed for both innovation merit and credit suitability.

Download OurInnovation Loans Guide

Our Clients Ask, We Answer.

FAQs Innovation Loans

Whilst this list is not definitive and every case is different, here are some of the FAQs we are asked. If you have further questions, please contact the FI Group Grants team.

How FI Group UK supports your Innovation Loans application

Global reach. Local expertise. We structure loan applications with bank-ready financials, compliance-proof evidence packs, and a clear line-of-sight to drawdowns and repayment.

Innovation Loans strategy, modelling and affordability case
Costing, IFS authoring, and audit-ready documentation
Integration with R&D Tax Relief and grants to smooth cash flow

“We turn complexity into clarity, fast. The strongest applications combine credible milestones with a funding plan the credit team trusts.” – Giuseppe Amoroso – Non-dilutive Funding Specialist

Contact the loans team

How FI Group UK supports your Innovation Loans application

Global reach. Local expertise. We structure loan applications with bank-ready financials, compliance-proof evidence packs, and a clear line-of-sight to drawdowns and repayment.

Innovation Loans strategy, modelling and affordability case
Costing, IFS authoring, and audit-ready documentation
Integration with R&D Tax Relief and grants to smooth cash flow

Contact the loans team

Innovate UK Innovation Loans Rd24: Q&A for UK SMEs

Your Questions Answered for Innovate UK Innovation Loans Round 24

Download OurInnovation Loans Guide

FAQs Innovation Loans

What are Innovate UK Innovation Loans?

How successful are applications for Innovate UK Innovation Loans?

How many Innovation Loans have been offered to date?

What total value of loans has Innovate UK approved?

How much funding has actually been drawn down?

Who can apply?

Why do most applications fail?

Why does “poor quality of application” matter so much?

What is meant by “poor innovation quality”?

What does “not suitable to take on a loan” mean?

How much can I borrow?

What is the loan term?

What interest rate applies?

What costs are eligible?

What costs are ineligible?

How are funds drawn down?

What security is required?

When do repayments start?

Can I repay early?

Can I combine a loan with a grant?

Is collaboration allowed?

How are applications assessed?

Where do I find the current competition and apply?

Will Innovate UK take security over an SPV or the parent?

Are pre-revenue start-ups eligible?

How do you balance R&D risk with ability to repay?

Are established revenue-generating companies preferred?

Can the full cost of capital equipment and tooling be funded?

Have the portal questions changed since the last round?

Where should salaries go in the budget?

If we split the business into a new entity, does lack of Innovate UK history hurt eligibility?

Are bioequivalence or food-effect studies eligible?

Must end users be UK-based?

Are the applicant workshops full?

Where is the Good Application Guide?

Do I need to finish the R&D before applying?

Can the loan pay for IP filing?

When should projects start, and what triggers the start date?

Can I apply for a grant and a loan at the same time?

We are lead partner on another Innovate UK project. Can we still apply?

Can I use loan drawdowns to pay the loan interest?

Do assessors accept assumptions, or do we need market evidence?

Can we pay an overseas employee’s salary from the loan?

Is there a financial template and repayment calculator?

Can we start later than May if that suits our plan?

Is there a subcontractor percentage cap like some grants?

What support rate applies to labour for a micro company?

Are loans ever conditional on a planned equity raise?

Does the debenture cover intangible assets like IP?

Can the project include activities to get the product to market?

Our e-commerce debtors clear monthly. Do we still forecast debtors?

In the IFS portal, is the cost breakdown for the loan amount or total project?

Are software licences, such as CAD, eligible?

Can I start an application and save it to finish later?

Do the credit team or assessors use AI to evaluate proposals?