Government backs innovative businesses with new £150 million loan scheme

Today the Government has announced a £150 million loan scheme to support innovative small businesses to access the funds they need at every stage of innovation – protecting the future economy and entrenching our position as a science superpower.

Proven by the success of the historic vaccine development, the UK is already home to some of the most innovative minds in the world, but it is right continue to provide these businesses with the resources they need to thrive.

That is why the Government are launching a new loan competition through Innovate UK, offering up to £150 million to support business’s research and development projects and enabling SMEs to access the right finance at the right time in order to grow and develop the UK’s research capability.

This crucial funding will not only support businesses to grow but will be essential to securing a high-skilled and high-wage economy built on the technologies of the future – securing the UK’s status as a true Innovation Nation.

For further information about the support that is available for businesses in Norwich North, please visit: https://www.chloesmith.org.uk/local/news/support-for-businesses-in-norwich-north

For more information on this announcement, please visit: https://www.gov.uk/government/news/government-backs-innovative-businesses-with-new-150-million-loan-scheme