HSBC UK today launched a £200-million lending fund to support SMEs in Lincolnshire and the Fens.
The Lincolnshire and Fens fund is part of a wider £12 billion SME Fund for businesses across the UK launched today.
HSBC UK’s dedicated SME Fund is the largest to date, and now in it’s fifth year, is increasing £2 billion on last year after the 2017 fund was fully utilised.
Martin Hanson, Regional Director for Business Banking for the Midlands said: “This latest fund highlights HSBC UK’s unwavering commitment to supporting the growth of SMEs right across Lincolnshire, 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 Lincolnshire economy.
“This year is no exception and we hope to see many more local businesses taking advantage of the fund over the next year.”
The new SME Fund also ring-fences £1 billion to help UK companies grow their business overseas.
Amanda Murphy continued: “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.”