Showcasing the Best of Welsh Business

DEFAULT GROUP

Billions in Loans up for Grabs for Small Businesses

SHARE
,

The initiative from the bank is part of a broader commitment to make banking cheaper and simpler for customers.

The £10 billion fund is the largest package of support to be announced by HSBC for UK SMEs, with the aim to ensure ambitious companies in England, Wales, Scotland and Northern Ireland are able to access the funds they need to grow their businesses.

HSBC’s 2016 SME Fund and broader package of support also includes a free banking offer of up to 18 months for start-ups and 12 months for switchers, along with the introduction of year-long fixed-price £5.50 monthly account tariff, to commence at the end of a customer’s initial free banking period.

The Business Lending Eligibility Checker (BLEC), an online tool offering potential new customers a credit decision in principle for loans of up to £30,000 in under three minutes, will also be offered.

SOURCE: smallbusiness.co.uk