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Your email address will not be published.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 *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Recent Posts

The latest property data has identified Newquay as the fastest property seller’s market in the UK

Investing in your garden can increase your property’s value

French Riviera temping high-end homebuyers

How can the ownership rights of my commercial property impact a business sale?

Should I incorporate virtual property viewings permanently?

Investment expected to increase across Asia-Pacific in 2021

UK property industry slows as the conclusion of tax break looms

BNP Paribas cautioned investors on Friday as debt-trading bonanza that increased its earnings this past year

Over 300,000 property purchases fell through in 2020 – we show the most frequent motives and the best way to get your house sale back on track

House Prices in the Capital Surpass £500,000

Optimism from the Bank of England’s chief economist

The most expensive commercial properties.

Businesses operating from shared premises will miss out on grants

BA cuts 12,000 jobs, unions hit back

Media Streaming Service See Record Subscriptions

Covid-19 Causes Millions To Claim UK Furlough Scheme