Sprk Announces £50m Financing Facility to support UK SMEs

Igniting innovation

Sprk, the innovative online provider of R&D tax credit funding, is pleased to announce that it has today closed a new financing facility.

The financing facility provides up to £50m of lending capacity, dedicated to advancing R&D tax credits. The facility helps SMEs who are looking to accelerate their R&D programmes with a nondilutive source of funding.

Backed by a leading UK credit asset manager, managing over £3bn in AuM, this gives Sprk the ability to ensure that borrowers have the certainty of finance when they are approved.

Dom Peasley, CEO Sprk said, “Following on from our oversubscribed Series A we are extremely encouraged by the backing of one of the UK’s leading credit managers. The facility provides the
lending capital to help SMEs who are looking to accelerate their R&D programmes with a nondilutive source of funding. We believe this is the largest dedicated R&D tax credit financing facility
in the UK”.

Access your money sooner

“Sprk is now able to offer R&D tax credit financingfrom the point that eligible expenditure is incurred, as early as Q1 in the financial year, this is a first for the UK market and will revolutionise the R&D tax credit advance market. We view a Sprk Advance as an integral part of a SMEs cashflow planning when they are engaged in R&D.

Sprk believes in having a simple, straightforward and transparent lending proposition with no upfront fees paid by the borrower and no monthly interest payments. A Sprk Advance can improve
the cashflow position for thousands of SMEs, supporting British businesses and accelerating innovation.

Our investments in technology enables speed of underwriting, this is now combined with the certainty of finance to ensure those Sprk approved clients are funded within 48 hours.”

About Sprk:

Sprk provides SMEs the ability to access cash sooner from their eligible R&D spend using its proprietary online platform, ensuring credit decisions are made swiftly with certainty of funding.

Providing loans of up to £1m, Sprk’s unique proposition is designed to optimise cashflow for borrowers through a non-dilutionary source of capital without charging upfront fees or ongoing
interest payments.

Working through a dedicated network of Sprk Approved Advisors, we ensure that Sprk partners with high quality firms who can provide expert advice and facilitate the R&D claims for our
borrowers.

Sprk was founded by its Chairman Tony Brennan following the successful launch, build and subsequent sale of Radium Capital in Australia.

Radium has become the largest specialty lender for R&D tax credits in Australia in the five years since it launched.

Enquiries:

SPRK Capital
Dominick Peasley,
0800 0025 100