Rocking Horse: products, terms and eligibility

Rocking Horse is a UK provider of R&D tax credit loans. The legal entity named on its site is Rocking Horse Group Limited, company number 11086341. It is based in London. Companies House shows the company was incorporated 2017.

Rocking Horse Group Limited was incorporated in 2017 (company number 11086341) according to Companies House. Its site describes it as a provider of non-dilutive funding for UK businesses, offering advances against R&D tax credit claims and innovation grants as an alternative to debt and equity finance. The pages read give no founding story, ownership or office details.

In its own words on scale:

• Says it offers funding of between £25,000 and £3 million (figures on its site in October 2026).

Everything on this page comes from what Rocking Horse publishes itself. We show the date we last checked it, and we do not rate or rank lenders.

Rocking Horse publishes 2 products for UK businesses. The table above gives the amounts and terms as it states them.

• R&D tax credit loan: Repaid when HMRC pays the R&D tax claim.
• UK innovation grant advance funding: Repaid at the end of each quarter from the grant payment; can be rolled over or topped up.

R&D tax credit loan

An advance of up to 80% of the expected R&D tax credit refund, taken before HMRC pays the claim. The expected refund acts as the collateral and the loan is repaid when HMRC pays the claim. The homepage gives a limit of £25,000 to £3 million for UK limited companies liable to corporation tax with at least £20,000 of annual R&D spend and at least one qualifying activity.

UK innovation grant advance funding

Lets a business access up to 80% of an awarded innovation grant payment in advance, covering up to two quarters ahead. The site says no collateral is required and the advance is repaid automatically when the grant payment arrives, with no monthly instalments. Qualifying grants listed include Innovate UK, Horizon Europe, SBRI, BEIS and ESA grants, and the advance can be rolled over and increased.

Rocking Horse says its finance is used for:

• Releasing cash from an R&D tax credit claim before it is paid
• Advancing an awarded innovation grant
• Funding R&D and innovation without giving up equity
• Working capital for SMEs and early-stage businesses

Sectors and business types it says it funds:

• SMEs and early-stage UK limited companies doing R&D (no specific industries named)

Rocking Horse publishes these criteria. Meeting them does not mean an application will be accepted: every lender makes its own decision.

• UK-registered limited company liable to corporation tax.
• Doing R&D to improve products or services with a focus on innovation.
• Spend of at least £20,000 a year on R&D and at least one activity under the government definition of R&D.
• Grants from Innovate UK, Horizon Europe, SBRI, BEIS or ESA for grant advances.

Rocking Horse describes its process like this:

1. Complete the online application with business details.
2. Submit the supporting documents.
3. Credit assessment and approval.
4. Sign the legal documents.
5. Repay when HMRC or the grant body pays.

Information it says it asks for:

• Company and contact details
• Estimated annual R&D tax credit amount and whether you already claim
• Other supporting documents (not specified on the pages read)

Every application is subject to status and the lender’s own criteria at the time.

An R&D tax credit loan advances part of the value of a research and development tax claim before HMRC pays it. The loan is usually repaid when the credit arrives.

Lenders look at the claim itself, who prepared it and your claim history. Capzy does not give tax advice; if tax timing is the pressure point, our guide to HMRC Time to Pay covers HMRC’s own payment plans.

Points Rocking Horse publishes that are worth knowing:

• Funding is secured against the R&D tax credit refund or grant payment.
• No monthly repayments; single repayment when the refund or grant is paid.
• Described as non-dilutive: no equity is taken.

Security and guarantees

For R&D loans the expected tax credit refund is the collateral. For grant advances the site says no collateral is required. Personal guarantees and recourse terms were not stated on the pages read.

The pages we checked do not carry a regulatory statement, so we describe none. Ask Rocking Horse how it is regulated and check any claim on the FCA Register.

Protections differ by borrower type and loan size. Most lending to limited companies is not regulated consumer credit, so read the agreement and ask the lender what applies to you.

Rocking Horse is the only profile in this category so far.

The full list, grouped by product type, is in our directory of UK business lenders.

Capzy is a credit broker, not a lender, and gets paid by the lender. One application lets your business compare options across lenders, so you can weigh this kind of facility against the alternatives. You can check your funding options with a soft search that does not affect your credit score. A full application to a lender may involve a hard search, and any offer is subject to status and lender criteria.