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East Midlands Chamber News

HSBC Launches £5bn International Growth Fund

A multi-billion pound fund to help small and medium-sized businesses and entrepreneurs in the UK fulfil their international ambitions has been launched by HSBC.

HSBC's International SME Fund will make at least £5bn of lending available to businesses with a turnover of up to £25m looking to enter or grown in new markets.

The bank said it was aiming to be the lender of choice for international trade with the launch of the fund.

"Trading internationally is critical not only for the British companies who want to remain competitive in the future, but also for the wider UK economy," said Roy Harris, HSBC Midlands regional commercial director.

"Last year, our International SME Fund proved to be very successful and helped more than 28,000 UK businesses to take advantage of international opportunities.

"This year we have increased the initial fund allocation to £5bn in order to continue to encourage and support UK SMEs. With our unique international presence, and the extensive network of dedicated relationship managers, we aim to be the bank of choice for businesses looking to increase their footprint overseas."