HSBC supports UK SMEs with £12 billion lending fund

As part of its broader commitment to helping British business growth, HSBC has launched a £12 billion lending Fund for SMEs.

In its fifth year, the SME Fund is the largest yet doubling the first of £6 billion – altogether HSBC’s total funds committed to SMEs over the last five years is £46 billion.

Following on from last year’s success, the 2018 SME Fund will again include a ring-fenced minimum pot of £300 million to support the UK’s agriculture businesses.

Ensuring the Fund remains truly UK-wide in its support of ambitious companies, it will be split and allocated to specific regions across England, Wales, Scotland and Northern Ireland.

Amanda Murphy, Head of Commercial Banking at HSBC UK, commented, “Many SMEs in the UK are ambitious, entrepreneurial and ready to expand. After the success of last year, this increased SME Fund 2018 will help more businesses plug the gap between ambition and reality, supporting their growth. We are committed to help British businesses innovate, evolve and grow.

“British companies are optimistic about their trade growth prospects but it’s important they can get the finance they need to achieve it. With this in mind, we have set aside £1 billion of the Fund to support international businesses in the UK. We cover more than 90 per cent of global trade and capital flows and are uniquely placed to help these businesses trade overseas.”

Small Business Minister, Kelly Tolhurst, added, “With more than 1,000 starting up every day, the UK’s 5.7 million small businesses are the backbone of our economy.

“Through our modern Industrial Strategy and industry-led initiatives such as this, the Government and industry are building an environment in which businesses all over the country can thrive.”

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