Funding for SMEs in Wales from HSBC

HSBC has launched a £550m lending fund for SMEs in Wales.

The Welsh fund is part of the bank’s wider £12bn fund for UK SMEs. Now entering its fifth year, it is the largest to date – increasing £2bn on last year after the 2017 fund was fully utilised by British businesses seeking to expand.

In Wales the fund has increased by £50m since 2017.

Nigel B Davis, HSBC’s regional director for Wales and the west of England, said: “This latest fund highlights HSBC UK’s unwavering commitment to supporting the growth of SMEs right across Wales, no matter whether they’ve just started out or are an already established business.

“Each year the fund helps and encourages businesses to grow locally, nationally and internationally, in turn helping them achieve their ambitious goals and create jobs for the Welsh economy. This year is no exception and we hope to see many more local businesses taking advantage of the fund over the next year.”

Amanda Murphy, head of commercial Banking at HSBC UK, said: “Many SMEs in the UK are ambitious, entrepreneurial and ready to expand. After the success of last year, this increased SME Fund 2018 will help more businesses plug the gap between ambition and reality, supporting their growth. We are committed to help British businesses innovate, evolve and grow.”