DASA Defence Innovation Loans

Loans of up to £1 million with a below-market interest rate of 7.4% per annum to help convert your mature defence innovation into a strong business proposition for defence procurement.

Fund details

This is Cycle 1. Cycle 2 will open on 29th Oct 2024 & close on 17th Dec 2024.

• Available for up to 3 years to cover project development costs when the project is underway, but the exploitation has not yet started (the availability period).
• Extended until the first commercial sales from the results of the project, up to a maximum of 2 further years (the ‘extension period’).
• Repayable over a maximum of 5 years (the ‘repayment period’) after the availability and extension periods.

Innovations must be fairly mature at Technology Readiness Level 6 and above to ensure that the solution can be commercialised within the time scale of the innovation loan. Applications must evidence a Defence need for the innovative solution.

Eligibility 

To take on a Defence Innovation Loan for a project you must:

• be a UK-registered SME
• intend to exploit the results in the UK or overseas to make a significant and positive impact on the UK economy and/or productivity
• give evidence that your business is suitable to take on a loan.