News Article

HSBC

7 June 2022

HSBC UK has launched its 2022 £15bn lending Fund for small and medium sized businesses today, supporting local economies, employment opportunities and driving growth across the country.

The Fund is a key part of HSBC’s commitment to help British businesses to “innovate, thrive and grow” in the UK and internationally. SMEs are vital to the UK economy and account for three-fifths of the employment and around half of turnover in the UK private sector according to the FSB.

The Fund includes specific regional and locally focussed allocations so that companies throughout the country can benefit. This year’s Fund also includes allocated funding for businesses trading internationally (£2bn), in the agriculture sector (£1.2bn) the tech sector (£500m) and franchise businesses (£500m).

It is complimented by the Green SME Fund (£500m) for businesses of all sizes to transition and “thrive” in a low carbon economy and the new Growth Lending (£250m) for high growth tech businesses to support well-equitised, high growth, loss-making scale ups early in their growth journey.

Since launching its annual SME Fund in 2014, HSBC UK has lent more than £90bn helping businesses to make the most of their money, now and into the future and opening up a world of opportunity for our customers.

Read more at: Bdaily