The new High Growth IP Loan that Sci-Net secured from NatWest has been developed in cooperation with specialist IP evaluation company Inngot to help unlock the funding gap for high-growth firms.
Sci-Net has reportedly secured a £700,000 Intellectual Property (IP)-backed loan from NatWest to support its business growth.
NatWest launched the IP loan offering in January. This proposition is specifically designed for high-growth businesses to enable them to leverage the value of their Intellectual Property instead of tangible assets as collateral to secure growth funding.
Developed with the help of the specialist IP evaluation company Inngot, NatWest loans start from £250,000 up to 50% of the value of the firm’s intellectual property – software, patents, copyrights, trademarks and registered designs.
The bank will use valuations provided by Inngot to identify and evaluate relevant intangible assets which could be taken as security for loans. NatWest expects to cover a £15 billion existing growth funding gap for fast-growing, asset-light businesses with its new offering.
Sci-Net is a Microsoft Gold Partner, providing business solutions and technical expertise in ERP, CRM and Azure Cloud infrastructure. It offers tailored services in Microsoft Dynamics 365 Business Central, Dynamics NAV, Office 365, and various retail ERP solutions.
Throughout over 25 years of operations, Sci-Net has established partnerships with multiple tech giants and businesses across the retail, e-commerce and distribution industries. The new funding is supposed to support the ongoing development of its ERP>Retail and its ERP>Trade software.
Neil Bellamy, Head of Technology, Media and Telecoms at NatWest Group, said it was a pleasure to support Sci-Net with the bank’s first IP-backed loan. He described the deal as a vivid illustration of the potential that unlocking value from IP and intangible assets could have for the UK economy.
Duncan Fergusson, Managing Director of Sci-Net, added that NatWest provided not only financial aid to the firm but also shared great business support and recommendations.
