Innovation continuity loans are available for SMEs and third sector organisations in the UK that are at risk of not continuing planned or existing innovation activity due to a sudden shortage or even unavailability of funds directly related to COVID-19.
Innovate UK’s Innovation Loans scheme aims to provide finance that is affordable, patient and flexible for later-stage innovation projects that have a clear route to commercial success and economic impact.
Loans are aimed at innovative micro, small and medium-sized businesses or third sector organisations that will be able to manage a loan, but may struggle to access finance or need to raise funds alongside offers from commercial lenders or schemes backed by the British Business Bank.
The loans are designed to help those organisations that have a challenge in continuing, completing or following on an innovation project and those that find themselves facing a sudden shortage or even unavailability of funds resulting directly from the COVID-19 pandemic.
How To Apply
Applicants are encouraged to read the general guidance for applicants to help their chances of submitting a quality application.
Those requiring more information should contact the competition helpline on 0300 321 4357 or email [email protected]
Innovation continuity loans will be available for commitment until 31 December 2020.
More details can be accessed here