Rocking Horse specialist finance review
Rocking Horse advances money against expected UK R&D tax credit or innovation grant receipts. This guide explains the published funding structure and repayment considerations. The advance is debt, and businesses need to enquire directly because Funding Fred has no matching application route for this product.
By Funding Fred · Sources checked 19 September 2026
This is an information page. A Funding Fred enquiry for this product is not available here; check the provider’s official information for current options.
Potential fit
Who could consider Rocking Horse?
- Businesses that have submitted, or are preparing, an R&D tax credit claim with HMRC and need cash before that claim is paid out.
- Companies awarded an innovation grant who want funds sooner than the grant's scheduled disbursement, this is borrowing against the grant, not the grant award itself.
- UK limited companies carrying out qualifying research and development activity, where actual availability of an advance depends on Rocking Horse's own assessment of the specific claim or grant.
Worth weighing up
When to consider other options
- If a business has no live R&D claim or grant award in progress, this product simply isn't relevant.
- If a more general, lower-friction borrowing route would suit better, background on standard structures sits at funding guides.
- If comparing several funding routes before committing to any one lender, compare funding structures covers how to weigh options side by side.
Understand the offer
Costs and repayments
A useful starting point for any rocking horse R&D finance review is understanding what's actually being advanced. Rocking Horse advances funds against the value of an assessed R&D tax credit claim or innovation grant award, described as up to 80% of the assessed amount. The precise advance rate offered to any individual business depends on Rocking Horse's own underwriting of that specific claim or grant, rather than a single published rate.
Because the facility is debt secured against a future receipt, the eventual tax credit payment or grant tranche, repayment is typically expected once HMRC or the relevant grant body releases those funds. Rocking Horse describes this funding as non-dilutive, meaning a business does not give up equity in exchange for the advance.
Exact fees, discount rates or interest applied are not published in detail. Businesses considering this route should request a written quote setting out repayment timing, any charges on early or delayed settlement, and what happens if the underlying claim or grant is reduced, delayed or rejected before deciding whether to proceed.
Eligibility and application
Rocking Horse's stated audience is UK businesses undertaking qualifying research and development activity, whether that means a claim already filed under HMRC's R&D tax credit scheme, or funding secured through an innovation grant body. Eligibility for an advance depends on Rocking Horse's own assessment of the underlying claim or grant, not simply on a business having submitted the relevant paperwork.
Businesses interested in this product apply directly through Rocking Horse's own website rather than through Funding Fred. Check documentation and the funding model directly with Rocking Horse; current tax-credit eligibility should also be checked against HMRC guidance. This guide summarises published information only and is not a substitute for that direct enquiry.
Advantages to weigh up
- Structured as debt rather than equity, so ownership stakes are not diluted by taking the advance.
- Advance assessment is tied to an expected claim or grant receipt; a separate lending assessment still applies.
- Covers two distinct routes, R&D tax credit loans and innovation grant advances, for businesses already engaged in qualifying R&D work.
Limitations to understand
- The advance is borrowing against a grant or claim, not the grant or claim award itself; repayment obligations exist regardless of how the funds are eventually used.
- The advertised maximum of up to 80% of the assessed claim or grant depends on Rocking Horse's own assessment, the actual percentage offered to any individual business may be lower.
- Detailed pricing, security requirements and full eligibility criteria are not published in full; a written quote from Rocking Horse is needed to confirm the terms of any specific offer.
Look at the wider picture
Comparing the alternatives
Because this advance is tied to a specific claim or grant, a fair rocking horse R&D finance review comparison means weighing full written offers rather than headline percentages alone. Two providers each quoting "up to 80%" can produce very different outcomes once fees, repayment timing and claim-reduction clauses are factored in.
Businesses weighing this route against more general funding should also consider whether an unsecured facility or an asset-backed structure suits their timeline better, particularly where an R&D claim is still being prepared. General background on loan structures is covered at funding guides, broader lender comparisons at compare funding structures, and asset-backed alternatives at eligibility and terms guide.
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Your Rocking Horse questions, answered
Costs, eligibility and the details to check before applying.
How we put this guide together
This is a review of published UK product information, not a customer experience or a hands-on test. We have not assigned a star rating. This guide focuses on Rocking Horse — R&D tax credit and innovation grant advances. Other products may have different terms.
Sources checked 19 September 2026. Your written offer determines your actual costs and conditions.
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Use the official information to confirm product availability, eligibility and terms.
This page does not offer an application for this product through Funding Fred.