The Defence and Security Accelerator (DASA) is pleased to launch Cycle 3 of Defence Innovation Loans which has £10 million to lend for innovative defence solutions.
Accessible to SMEs, and with a below market interest rate of 7.4% per annum, the Defence Innovation Loan provides an excellent opportunity to apply for affordable funds to help you commercialise your defence solutions.
Defence Innovation Loans: An introduction
How to apply?
Check out the full document and submit your idea.
Defence Innovation Loans Webinar
On Thursday 9th September, DASA and Innovate UK hosted a live webinar to answer all of your questions about Defence Innovation Loans, where viewers spoke to our panel of experts about how to submit a successful application.
Watch our previous webinar
We received some great questions during our last Defence Innovation Loans webinar. Catch up on what you missed here.
For more Defence Innovation Loans content, check out our video playlist
How much is available for a Defence Innovation Loan?
The total of £10 million is available for the Defence Innovation Loan competition this year, of which comprises £5M from the Defence Innovation Fund and £5M from Army.
You can apply for a loan between £250,000 and £1.6 million with a below market interest rate of 7.4% per annum. This loan can cover up to 100% of eligible project costs to aid the commercialisation of the solution and overall term of the loan must not exceed 7 years.
Please note, Innovate UK will carry out the Defence Innovation Loan credit evaluation and you will enter into a loan agreement and security agreement with Innovate UK Loans Ltd.
