HSBC UK has launched a £250m lending fund to support small and medium-sized enterprises (SMEs) in Bedfordshire, Northamptonshire and Milton Keynes, as part of its commitment to help businesses realise their ambitions for growthand navigate Brexit.
The area Fund is part of a wider £14bn fund for SMEs across the UK. Since launching the SME Fund in 2014, HSBC has committed more than £60bn to UK SMEs as part of its commitment to help British businesses innovate, evolve and grow.
The HSBC UK 2019 Fund includes increased ring-fenced pots for international businesses and for the agriculture sector.
The allocation for international business has been doubled to £2bn to help companies grow overseas, while the agriculture pot has increased to £1bn from £300m last year.
Martin Hanson, regional director for Business Banking in the Midlands said: “The launch of this year’s fund shows our commitment to support the growth aspirations of SMEs across Bedfordshire, Northamptonshire and Milton Keynes.
“This fund is all about helping businesses to take new opportunities to grow and we want to reassure them that we’re here to help them achieve their goals.”
Amanda Murphy, head of Commercial Banking at HSBC UK, added: “Our SME Fund will help companies seize new opportunities for growth at home and overseas.
“We’ve always supported ambitious businesses, and we see it as our responsibility to be there for our customers whether conditions are benign or challenging.
“This year’s Fund is therefore part of a broader range of initiatives that we have in place to support British business as they navigate Brexit in a fast-changing world.”
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