When Should You Hire a Financial Adviser?

If you’re exploring growth funding options or starting your innovation journey, you may be asking: When is the right moment to bring in a financial adviser? For UK-based SME founders, finance leads, or advisers in innovation-led sectors, that decision often depends on when specialist input can directly speed up your next move.

Often, that moment is when non-dilutive funding becomes a realistic path to scale without giving up equity. For example, when an awarded innovation grant, expected R&D tax credit, or a larger-scale solution like an Innovation Term Loan could be accessed months earlier with the right guidance.

Working with a trusted partner such as SPRK Capital, backed by a £20 million facility from British Business Investments and a formal role in the Innovate UK Investor Partnerships programme, ensures you not only identify the best funding route but also secure it quickly and on founder-friendly terms.

Why working with a financial adviser can accelerate funding results

According to the British Business Bank, a financial adviser helps you navigate funding options and match your business to the right products, including complex opportunities such as non-dilutive funding.

How advisers turn intent into funded projects

A strong adviser helps you actively shape your funding strategy. They:

• Match needs to products: assess whether an R&D tax credit advance or an innovation grant advance suits your stage and runway.
• Prove eligibility: align your project with HMRC R&D criteria or Innovate UK competition rules.
• Prepare the application: organise the technical narrative and forecasts so funders can decide quickly.
• Coordinate all parties: engage your approved tax adviser and the lender (SPRK) to keep progress on track.

Advisers also guide you through specific non-dilutive funding routes, such as:

• R&D Advance Funding: unlock R&D tax credits earlier in the year.
• Grant Advance Funding: access awarded innovation grant money before it arrives in your account.
• Innovation Term Loans: a 36-month, fixed-rate finance option that can bring forward up to 150% of your latest R&D tax credit. Typical terms include an establishment fee of up to 3%, an interest rate of 1.5% per month, fixed repayments over 36 months, and no early repayment fees. Prepayments from HMRC R&D credits reduce the monthly amount. This product gives innovation-led SMEs a predictable repayment plan and a larger funding buffer than standard advances, helping you maintain momentum between funding rounds or major contracts.

For example, a medtech founder waiting six months for a tax credit refund can start manufacturing early with advance funding, keep launch dates on track, and maintain investor confidence.

Signs you should bring a financial adviser on board

1. You’re exploring non-equity finance for the first time

If you’re looking into non-dilutive funding for the first time, bring in an adviser early to save time and improve results.

2. Your funding needs are strategic and planned

If you’re scaling your team or planning new product development, a financial adviser ensures your funding choice fits the bigger picture.

3. Funding sources offer complexity or unfamiliar criteria

Innovation grants, R&D tax credits, and government-backed finance often come with specific rules and timelines. Advisers interpret these to ensure your application meets requirements.

4. You’re short on time or internal expertise

If your focus is on delivering projects, a financial adviser handles the heavy lifting from gathering documentation to liaising with funders.

5. You want credibility and access to trusted partners

A well-connected adviser adds credibility to your application. At SPRK Capital, our £20 million facility from British Business Investments gives us the capacity to offer larger volumes of non-dilutive funding quickly.

SPRK is the first alternative funding provider to join the Innovate UK Investor Partnerships programme, giving businesses a recognised route to match innovation grant awards with private investment and bridge the time between project start and grant drawdowns.

Get the funding you need without giving up ownership. Explore how SPRK Capital can help you access non-dilutive funding for R&D tax credits and innovation grants. Get in touch today to start your application.

Eligibility and documentation checklist

For R&D tax credit-linked non-dilutive funding, provide:

• Project description showing an advance in science/technology and the uncertainties you resolved.
• Costs schedule (staff, contractors, consumables, software).
• Submit the Additional Information Form (AIF) before filing your Company Tax Return. On the CT600, confirm the AIF submission and, where claiming a payable credit or RDEC, include the CT600L supplementary pages.

For innovation grant advances, provide:

• Grant award letter and drawdown schedule.
• Milestone plan and cash-flow forecast aligned to the grant’s terms.

An adviser ensures these documents are accurate and complete, speeding up decisions.

For example, R&D Advance Funding can release up to 80% of your estimated claim, with an establishment fee of up to 2.5% and an interest rate of 1.33% per month. Innovation Term Loans can extend that to 150% of your latest R&D credit with fixed monthly repayments.

Quick checklist: When to hire a financial adviser

• Exploring R&D tax credit advances or innovation grants: Advisers guide eligibility checks and strengthen your case.
• Scaling or strategic investment decisions: Aligns funding with business growth plans.
• Complex application criteria: Reduces errors and processing delays.
• Time-intensive funding process: Keeps your team focused on operations.
• Seeking credibility and trusted networks: Opens doors to institutional-backed lenders like SPRK.

Timeline at a glance

• Innovation grants: competition and assessment periods vary; allow time for due diligence and grant-offer processing.
• R&D tax credits: file with your Company Tax Return; HMRC requires an AIF submitted before filing, with CT600/CT600L entries as appropriate. Processing times vary based on checks.

What this means for your business

Imagine you’re planning a new R&D project, but your tax credit refund isn’t due for months. Non-dilutive funding lets you bring that capital forward. With a financial adviser, you can navigate the eligibility process faster and secure the funding sooner.

SPRK’s £20 million facility from British Business Investments expands the availability of non-dilutive capital for UK innovators.

Make your funding strategy work harder for you. Whether you’re an SME leader or an adviser supporting clients, SPRK Capital helps you secure non-dilutive funding quickly and efficiently. Start your application now and put your plans in motion today.

How to get started with SPRK Capital

1. Check eligibility: Gather your R&D claim or grant award documentation.
2. Choose your funding type: Select between R&D Advance Funding, Grant Advance Funding, or an Innovation Term Loan.
3. Apply online: Use SPRK’s streamlined application process to submit your documents.
4. Receive funds: In many cases, receive capital within days of approval.

Start your application now and keep your innovation projects moving without giving up equity.