February 8, 2023

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HSBC Launches £15BN fund to help UK SMEs and their local economies

2 min read

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

Businesses have told us that they are ready to invest for growth and are confident about the prospects for their own businesses.They point to the biggest areas of opportunity are in sustainability and digitalisation. Whilst concerns about the broader market remain, HSBC’s customers are thinking about growth via investment, acquisitions and capital expenditure.

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 (£2 billion), in the agriculture sector (£1.2 billion) 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 £90 billion helping businesses to make the most of their money, now and into the future and opening up a world of opportunity for our customers.

Peter McIntyre, Head of Business Banking at HSBC UK, said: “SMEs are vital to the UK economy, and our customers have told us they are ready to invest for growth.  The £15 billion Fund will help businesses to expand internationally, as well as here in the UK, supporting key sectors and driving investment across the…

Business Matters

2022-06-01 07:19:06

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