Applications are now open for low-interest loans to help innovative Victorian small to medium enterprises (SMEs) continue developing new products, services and technologies vital to the State’s future economy.

R&D Cash Flow Loans

Victorian SMEs face unique challenges in accessing affordable finance, which has been exacerbated by the COVID-19 pandemic.

Administered by Invest Victoria, the R&D Cash Flow Loans initiative will help to address these challenges by giving SMEs access to affordable finance to boost their cashflow.

This will ensure they can continue to invest in research and development to keep their businesses competitive, employing researchers and innovators, conducting trials and experiments, and purchasing assets and equipment critical to R&D work programs.

Successful applicants will be able to borrow between $250,000 and $4 million in low-interest loans, with total funding under the two-year initiative capped at $50 million.

Victorian SMEs that have previously received a refundable tax offset under the Commonwealth’s R&D Tax Incentive are eligible to apply for these loans.

The R&D Cash Flow Loans initiative was announced in the 2020-21 Victorian Budget to support and grow Victoria’s innovation ecosystem, recognising the importance of investments in R&D to the future growth and sustainability of the State’s economy.

For more information and/or to submit an enquiry form, visit

*This program is no longer accepting applications