Innovation Loan (Innovasjonslån / Risikolån)
Invests Norway firms in risk-capital alternatives for innovative firms through structured financing and growth-oriented milestones.
Innovation Loans (Innovasjonslån, also Risikolån) provide debt financing for innovation projects where traditional bank financing is not feasible. The loans are designed for growth-stage SMEs and companies with capital-intensive R&D, market expansion, or commercialisation needs.
Loan amounts typically range from NOK 1 million to NOK 50 million per company. Interest rates and security requirements are set to reflect the project's risk profile, often with reduced collateral requirements compared to commercial bank loans. The Norwegian State assumes part of the risk that traditional banks find difficult to underwrite.
A recent example: Observe Medical ASA received a NOK 15 million Innovation Norway loan in March 2026, with the company stating that the disbursement strengthens its cash position and supports a dismantling of corporate complexity to focus on core business.
Unlike grants, Innovation Loans must be repaid per agreed terms. The instrument is typically used alongside equity rounds, venture debt, or bank debt to complete a financing package.
Applications are submitted via Innovation Norway My Page and reviewed on a rolling basis.
Norwegian innovation projects requiring risk capital where traditional bank financing is not feasible. Used across sectors for growth-stage SMEs with capital-intensive R&D, market expansion, or commercialisation needs.
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