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HSBC launches £14 billion fund for British SMEs

Christian Fernsby ▼ | September 26, 2019
HSBC UK has launched a lending fund of £14bn to support small and medium-sized enterprises (SMEs) across the UK.
Britain   HSBC
The banking company, which rolled out its initial SME Fund in 2014, is said to have committed over £60bn to SMEs in the UK, thereby enabling them to innovate, evolve and grow.

Topics: HSBC British

HSBC UK’s 2019 Fund is the largest to date from the company. It comes with increased ring-fenced pots for global businesses and also for the agriculture sector.

The bank said that the allocation for international business has been increased two times to £2bn this year to help companies expand overseas, while the agriculture pot has been increased from last year’s figure of £300m to £1bn.

HSBC UK expects regional allocations in England, Wales, Scotland and Northern Ireland to ensure that firms across the country can make use of the fund.