£1bn lending fund for South West SMEs launched by HSBC

Thursday 20th September 2018

As part of a wider £12bn commitment to help British businesses realise their growth ambitions, HSBC UK has launched a £1bn lending fund to support small and medium-sized businesses across the South West. For more on this subject please read the bulletin below issued today by Insider News Media.

Roger Mundy, Managing Director, Beardsley Theobalds, 20th September 2018

 

HSBC launches £1bn South West lending fund

HSBC UK has launched a £1bn lending fund to support small and medium-sized enterprises (SMEs) across the South West.

The initiative is part of a wider £12bn commitment to helping British businesses realise their ambitions for growth.

Now entering its fifth year, the SME Fund is the largest to date – increasing £2bn on last year. It is double the first instalment of £6bn.

Nigel B. Davis, regional director for the Western & Wales region, said: "This latest fund highlights HSBC UK’s unwavering commitment to supporting the growth of SMEs right across the South West, no matter whether they’ve just started out or are an already established business.

"Each year, the fund helps and encourages businesses to grow locally, nationally and internationally, in turn helping them achieve their ambitious goals and create jobs for the South West economy.

"This year is no exception and we hope to see many more local businesses taking advantage of the fund over the next year."

Amanda Murphy, head of commercial banking at HSBC UK, added: "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."