Bank launches its £150m SME lending fund

The fund is the largest package of support to be announced by HSBC for SMEs in the area and it has been introduced to meet growing SME demand locally and is a significant increase from the £150m fund allocated to the same regions in 2015.

Nigel Davis, HSBC’s regional director for business banking, said: ‘We want to be the bank of choice for south Hampshire and Dorset SMEs, reinforced through our desire to lend more to local businesses, by committing the funds to do so, and by making banking easier and cheaper to help our customers grow. There is a strong desire from ambitious local SMEs to grow their businesses.

‘We are responding by ensuring HSBC is providing the funds they need to realise these ambitions.’

Head of UK commercial banking, Ian Stuart, said: ‘Right across the UK there is a wide range of innovative new and established SMEs, proving that location is no barrier to a great business idea.

‘SMEs are the driving force of the UK economy and we are here to support them, whether they are a start-up or established business, focused either on the domestic market or looking to trade internationally.

‘This fund underpins our support.’