HSBC Launches £10 Billion Lending Fund to Aid SMEs

Posted on 19 April, 2016 by Chris Grigorovsky

A £10 billion lending fund has been launched by HSBC which is set to help UK small and medium sized enterprises.

HSBC Logo

The fund, which forms part of a broader plan to make banking cheaper and simple for customers, is the largest package of support to be announced by HSBC for UK SMEs. This is set to ensure ambitious companies in England, Wales, Scotland and Northern Ireland can access these funds and grow their businesses.

HSBC’s 2016 SME Fund also includes up to an 18 months free banking offer for start-ups and 12 months for switchers, with yearlong fixed-price £5.50 monthly account tariff which commences at the end of customer’s initial free banking period.

Also being offered is the Business Lending Eligibility Checker, which is an online tool that offers potential new customers principal loans of up to £30,000 in under three minutes.

Commenting on the fund, Head of UK commercial banking at HSBC, Ian Stuart, said: “Right across the UK there is a wide range of innovative new and established SMEs, proving that location is no barrier to a great business idea.
“The fund underpins our support by putting SMEs in a stronger position to be making investments that will stimulate local economies and create more jobs.”

Small business minister, Anna Soubry, has encouraged small businesses to take utilise these services, adding: “We have a record number of small businesses driving our growing economy and while the picture is improving, access to finance remains an issue for many of them.

“It’s absolutely right that banks such as HSBC continue to develop their support for smaller businesses. I also want to see more of these businesses taking advantage of what’s on offer, both from banks and alternative lenders, to help them grow, invest and create jobs for people.”




Leave a Reply

Your email address will not be published. Required fields are marked *


Recent Posts

Aldi’s Expansion Plan

British Steel on the verge of collapse with over 20,000 jobs at risk

Paris watches as flames engulf one of France’s most famous landmarks

Debenhams on the brink of administration as board reject Ashley’s bid

Emmanuel Macron pushes for a new Europe with European Parliament elections on the horizon

Brexit impacts property market

Brexit uncertainty impacts the property market

Oxford_Street_Selfridges_Christmas_Decorations_2017

Creative Christmas window displays

Toronto downtown skyscrapers

Brief history of skyscrapers

Savvy promotions attract early Christmas sales for retailers

Are savvy promotions attracting Christmas sales for retail stores?

Greenfield developments

Greenfield developments: The facts

facts about converting chapels churches

Things to consider when investing in church or chapel conversions

Lincoln Castle 1068

Exploring Lincoln Castle’s Georgian and Victorian Prison

the leopard inn Burslem

Facts about The Leopard Inn, Stoke-on-Trent

ancient high house Stafford

The majestic Ancient High House in Stafford

retro video game arcades

Retro video game arcades: The comeback

industrial style offices

How to achieve an industrial inspired office