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HSBC launches £10bn lending fund for UK SMEs

HSBC has launched a £10 billion lending fund for SMEs in the UK as it looks to tap into this lively market.

The bank says it continues to be open to lending, having approved 91% of small business lending applications in the last year.

Ian Stuart, UK CEO, HSBC, says: “We want to put SMEs in a stronger position to make investments that will stimulate local economies and create more jobs.”

It states that a key focus of this year’s fund is to encourage more export. HSBC cites a 2016 report by the UK’s Federation of Small Businesses (FSB) which noted that one in five (21%) of small businesses currently export, but “there is potential to double this figure with the right support”.

Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.