HSBC launches £15bn lending fund to help UK SMEs grow again
HSBC has unveiled a record £15 billion lending fund designed to boost and expand UK businesses internationally, meanwhile supporting key sectors in specific regions to drive investments, as the country is recovering from the pandemic. The bank allocated over £14bn of Covid-19 lending support to British business last year.
This year’s fund is seeking to help companies grow again, internationalize and contribute towards a sustainable future society.
The £15 billion lending fund includes the following opportunities for techUK members:
- Two-thirds of the fund will be allocated to specific regions to ensure companies throughout the UK are able to benefit
- A £2 billion ring-fenced pot for businesses that trade internationally
- A new additional fund for tech businesses worth £500m
techUK believes that initiatives like this will help tech businesses across the country accelerate post Covid-19 recovery and open up international opportunities to support the government ’s export-led growth strategy.
If members have further questions, please reach out to Jana Psarska, Policy Manager for International Trade ([email protected]).