HSBC has announced a new £10 billion fund to lend to small businesses across the UK, with its largest package of financial support available to ambitious businesses in England, Wales, Scotland and Northern Ireland.
The bank says it is continuing to be open to lending to small businesses (known also as SMEs), having approved 90% of all small business lending applications for up to £30,000 in the last 12 months.
The £10 billion fund is available to both HSBC and non-HSBC customers and has been allocated across 43 local areas nationwide.
Aside from the lending package, HSBC’s financial and banking support for entrepreneurs includes 12 months of fee-free banking for existing small businesses or 18 months for start-ups, and many interactive business tools and resources within its Knowledge Centre.
Ian Stuart, Head of UK Commercial Banking, HSBC, said: “SMEs are the lifeblood of the UK economy and at HSBC we are committed to providing the finance and support they need to realise their business goals.
“We want to put SMEs in a stronger position to make investments that will stimulate local economies and create more jobs.”
Sarah Robertson, Group Operations Director at TaxAssist Accountants, added: “HSBC’s scheme sounds very interesting and is good news for anyone considering joining our franchise.
“TaxAssist has an A1 rating with the high street banks, who have continued to be very supportive in lending to our new and existing franchisees.
“We have particularly close working relationships with HSBC, Lloyds and NatWest who all have dedicated franchise departments and are familiar with our working model and business plans”.
If you are interested in finding out more about taking on a TaxAssist Accountants franchise, the next step is to call the Support Centre for an unofficial chat. Following on from this, you can visit us in Norwich for a Discovery Day, where you can meet with the Directors and Senior Support Staff, and we will provide further information on how to establish your own practice under the TaxAssist brand name.
July 2017
