Stuart Law

Assetz Capital applies for £10m BCR grant

Assetz Capital has applied for a Pool E Banking Competition Remedies (BCR) £10m grant as it continues to scale its SME lending at pace.

The P2P marketplace lender has applied for Pool E — which consists of £100m and is open to eligible bodies providing financial services to UK SMEs.

Assetz Capital offers commercial mortgages and development finance. 

Since inception, it has lent over £1bn to UK SMEs, supporting more than 1,200 businesses.

It has funded 3,000 new homes in both 2018 and 2019.

Stuart Law, CEO at Assetz Capital (pictured above), said: “By December 2022, we’re aiming to have lent a further £1bn to SMEs, supporting around another 25,000 jobs and funding the development of at least 3,500 further new homes. 

“This BCR grant, combined with a further £10m matched contribution from ourselves, would enable us to build on these strong foundations and grow even faster, allowing us to provide even greater support for underserved UK SMEs.”

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