Banks launches £250m fund to aid Lancashire businesses

HSBC UK has launched a £250m lending fund to support small and medium-sized enterprises in Lancashire, as part of its commitment to help businesses realise their ambitions for growth and navigate Brexit.

Wednesday, 25th September 2019, 4:21 pm
Updated Wednesday, 25th September 2019, 5:21 pm
Amanda Murphy from HSBC UK

The Lancashire Fund is part of a wider £14bn fund for SMEs across the UK. Since launching the SME Fund in 2014, it has loaned more than £60bn To UK SMEs.

The HSBC UK 2019 Fund includes increased ring-fenced pots for international businesses and agriculture.

Mike Hemingway, HSBC UK’s regional director for the North, said: “The launch of this year’s fund shows our commitment to support the growth aspirations of SMEs across Lancashire – from Blackpool to Burnley and Chorley to Carnforth.

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“This fund is all about helping businesses to take new opportunities and grow and we want to reassure them that we’re here to support them in achieving their goals.”

Amanda Murphy, head of commercial banking in the region, said: “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.”