The Innovation Grant Advance Loan is finance that lets a UK company draw cash against a grant it has already been awarded — before the grant provider pays it. Innovate UK and most public grants pay in arrears, so you spend first and claim back later. SPRK’s innovation funding service bridges that gap, turning a confirmed award into working capital you can use now.
SPRK can reduce a typical Innovate UK project’s working capital requirement by up to 60%. We work with grants from all providers, including Innovate UK, UKRI, Innovate UK Edge, KTP, EIC, DASA.
It’s a core part of SPRK’s innovation grant funding: non-dilutive, repaid from the grant itself, with no cash paid upfront — built specifically for SME innovation funding. An advance is not a replacement for any ‘matched funding’ requirements but significantly reduces the equity required to fund a grant award.
Grant drawdowns are typically quarterly or milestone-based, which means you often fund salaries, equipment and subcontractors months before the money arrives. An Innovation Grant Advance Loan lets you borrow against your signed grant award and repay automatically from each drawdown as it lands — so your project keeps moving instead of stalling on cashflow.
We advance against confirmed, non-dilutive grants from recognised global public funders awarded to a UK business — most commonly Innovate UK grants, EIC grants and themed programmes. What matters is a signed grant award letter or offer and a clear drawdown schedule; that schedule drives the advance loan amounts and its repayment profile. If you’re not sure your grant qualifies, contact the team at SPRK and we’ll tell you quickly.
The application is quick and online. Once we’ve validated your award letter, drawdown schedule and you’ve gone through underwriting, funds are released the same day as approval, under one set of standardised documents — so the advance is in place in time to cover your upfront project costs.
A grant is money you’re awarded and don’t repay; an advance is a loan that gives you that grant money sooner and is then repaid from it. They aren’t alternatives — the loan simply unlocks the timing of the grant you’ve already won. You can draw up to 80% of your quarterly grant costs, with any surplus staying with you, which can cut the working capital you need to tie up in a project by a meaningful margin.
Access your grant payments sooner with no cash paid upfront
Boost cashflow by drawing up to 80% of your quarterly grant costs
Reduce capital requirements by up to 60%
Establishment fee
Interest rate
Zero
Quick & Easy application process
Fast approval and funding times
Zero interest repayments during term of Grant Advance
Repaid
One set of standardised documents (first ranking debenture) for all Grant Advance Loans
SPRK are specialists in Innovation Term Loans, and we’re here to help accelerate your business