HSBC launches £250m fund to support Lancashire SMEs

By Dean

18 Apr 2016

HSBC has launched a £250m lending fund to support small and medium-sized enterprises (SMEs) in Lancashire, as part of a broader commitment to make banking cheaper and simpler for customers.

The fund is the largest package of support to be announced by HSBC for SMEs in Lancashire. It has been introduced to meet growing SME demand locally and is an increase from the £225m fund allocated to the same region in 2015.

  • A £250m fund available to support Lancashire SMEs
  • A free banking offer of up to 18 months for start-ups and 12 months for switchers
  • The introduction of year-long fixed-price £5.50 monthly account tariff, to commence at the end of a customer’s initial free banking period
  • Changes that will make banking cheaper for our customers: a reduction in the Personal Guarantee Fee from £80 to £10 for any lending facility above £10,000
  • The launch of the Business Lending Eligibility Checker (BLEC) – an online tool offering potential new customers a credit decision in principle for loans of up to £30,000 in under two minutes
  • A free text alert service for informal overdrafts, which will help customers avoid paying informal overdraft fees and interest.

HSBC’s head of UK commercial banking, Ian Stuart, said: “Right across the UK there is a wide range of innovative new and established SMEs, proving that location is no barrier to a great business idea. SMEs are the driving force of the UK economy and we are here to support them, whether they are a start-up or established business, focused either on the domestic market or looking to trade internationally. This fund underpins our support by putting SMEs in a stronger position to be making investments that will stimulate local economies and create more jobs.”  

Enjoyed this? Read more from Dean

Latest news

1

Blackpool approves plans for pair of apartment complexes New South Promenade Apartments Visuals

Blackpool approves plans for pair of apartment complexes

12 Apr 2024

2

Distinguished engineer takes senior role at Lancaster University Rebecca Lingwood

Distinguished engineer takes senior role at Lancaster University

11 Apr 2024

3

International building supplies firm to open new plant in Preston New Kerakoll Group Premises Visuals

International building supplies firm to open new plant in Preston

11 Apr 2024

4

Case Study: RfM Transform and Belgravia Décor HR Trends from RfM Transform (13).png.png

Case Study: RfM Transform and Belgravia Décor

12 Apr 2024

5

Lustalux helps with the £21m refurbishment of Printworks Manchester pw-sign-manchester.jpg.jpg

Lustalux helps with the £21m refurbishment of Printworks Manchester

12 Apr 2024

Hwc 2024 Email Signature 980x120
Background image for hub sign up block

LBV Hub

Reach 50,000 members of the Lancashire business community

Post your news
Post your events
Post your offers
Company profile
Social reach
Magazine coverage
Sign-up
Events
Health and Wellbeing Conference 2024
Hwc 2024 Social Media 1200px 1
Networking
23 Apr 2024

Health and Wellbeing Conference 2024

Crow Wood Hotel, Burnley , BB12 0RT

08:30 - 13:00

Business Networking in Preston- BNI Brunch
EVENT LISTING SIZING Brunch .png.png
LBV Hub Networking
12 Apr 2024

Business Networking in Preston- BNI Brunch

Samlesbury Preston Hotel, Preston New Road, Preston, PR5 0UL

09:30 - 11:00

Business Networking in Blackburn - BNI Infinity
EVENT LISTING BNI Infinity.png.png
LBV Hub Networking
12 Apr 2024

Business Networking in Blackburn - BNI Infinity

Hampton by Hilton, 2 Frontier Ave, Blackburn, BB1 3AL

06:30 - 08:30

Help to Grow Management Course
HTG2.png.png
LBV Hub Seminars
15 Apr 2024 - 17 Jul 2024

Help to Grow Management Course

Preston Campus , Preston , PR1 2HE

09:30 - 14:00

Business Networking in Chorley - BNI Endeavour
EVENT LISTING SIZING Endeavour.png.png
LBV Hub Networking
16 Apr 2024

Business Networking in Chorley - BNI Endeavour

Oak Royal, Bury Lane, Chorley, PR6 8SW

06:30 - 08:30

Business Networking in Blackburn - BNI Vista
EVENT LISTING SIZING Vista.png.png
LBV Hub Networking
16 Apr 2024

Business Networking in Blackburn - BNI Vista

Hampton by Hilton, 2 Frontier Ave, Blackburn, BB1 3AL

06:45 - 08:30

Business Networking in Accrington - BNI Zeus
EVENT LISTING SIZING Zeus.png.png
LBV Hub Networking
17 Apr 2024

Business Networking in Accrington - BNI Zeus

The Mill House, Corn Mill Yard, Accrington, BB5 5HX

06:45 - 08:30

Business Networking in Lancaster - Eden Business Network
EVENT LISTING Eden Business Network.png.png
LBV Hub Networking
17 Apr 2024

Business Networking in Lancaster - Eden Business Network

The Borough, 3 Dalton Square, Lancaster, LA1 1PP

18:30 - 20:30

Business Networking in Preston - BNI Diamond
EVENT LISTING BNI Diamond.png.png
LBV Hub Networking
17 Apr 2024

Business Networking in Preston - BNI Diamond

The Marriot Hotel, Garstang Road, Broughton, PR3 5JB

07:15 - 09:00

Cyber Secure 360: Safeguarding Your Digital World
CyberSecure 360 LBV-32.png.png
LBV Hub Seminars
18 Apr 2024 - 18 Apr 2024

Cyber Secure 360: Safeguarding Your Digital World

Accrington Stanley, Accrington, BB5 5BX

08:30 - 12:00

Business Networking in Burnley - BNI Kudos
EVENT LISTING BNI Kudos.png.png
LBV Hub Networking
18 Apr 2024

Business Networking in Burnley - BNI Kudos

Prairie Sports Village, Windemere Avenue, Burnley, BB10 2FU

06:45 - 08:30

Business Networking in Preston- BNI Brunch
EVENT LISTING SIZING Brunch .png.png
LBV Hub Networking
19 Apr 2024

Business Networking in Preston- BNI Brunch

Samlesbury Preston Hotel, Preston New Road, Preston, PR5 0UL

09:30 - 11:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more Lbv115 Online Graphic
Subscribe now

Weekly news bulletin