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£100,000–£1 Million
Project Value
Up to 7 Years
Project Length
Various
Competition Closes
This service provides an opportunity for single small and medium enterprises (SMEs) with solutions to defence-themed problems to apply for a Defence Innovation Loan of between £100,000 and £1 million at a below-market interest rate of 7.4% per annum. This loan can be used to cover up to 100% of eligible project costs to aid the commercialisation of the solution.
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.
Innovations must be fairly mature at TRL 6 and above to ensure that the solution can be commercialised within the time scale of the innovation loan.
The Defence Innovation Loans competition runs throughout the year in cycles. Assessment starts the day after the competition cycle closing date, subject to pre-sift checks to confirm eligibility.
