BCR opens applications for Capability and Innovation Fund Pool C
Banking Competition Remedies (BCR) has opened the fourth and final applications window for Pool C of the Capability and Innovation Fund, reports Jane Connolly.
Four grants of £10 million each are available, with the aim of expanding the provision of business services, including lending or payments services to SMEs in the UK or international payments services to SMEs in the UK.
BCR is the independent body established to implement the £775 million Royal Bank of Scotland (RBS) State Aid Alternative Remedies Package.
Designed to support the development of wider capabilities and competition in the SME banking markets, the Capability and Innovation Fund comprises four pools with a total value of £425 million.
The final application window for Pool C closes at 5pm on 23 June and the board’s decision will be announced on 14 August.
Pool A of the Capability and Innovation Fund awarded grants with a combined value of £280 million to Metro Bank, Starling Bank and ClearBank.