Defence Innovation Loans (DASA)

What it is

This is a repayable loan, not a grant — £100,000 to £1 million at a below-market 7.4% a year for single UK SMEs commercialising a mature (TRL 6+) defence or security innovation. It can cover up to 100% of eligible project costs and is awarded in periodic DASA competition cycles; the FY25/26 cycles have all closed and no new cycle is currently open.

Verified 2026-08-21 on gov.uk and iuk-business-connect.org.uk: loans of £100k–£1m at 7.4% per annum, up to 100% of eligible project costs, for single UK-registered SMEs with defence-relevant innovations at TRL 6 and above. FY25/26 ran seven cycles; the final cycle (7) closed 24 Mar 2026 with decisions by 19 May 2026, and no FY26/27 cycle was announced on either page as of today — hence between_rounds with rolling:true/deadline:null per seed convention. Funder-stated restrictions the engine cannot express: individuals, academic institutions, research organisations and large companies are ineligible; applicants must confirm they have spoken to DASA about the innovation's suitability before applying; repayment capacity is assessed.