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Bank has increased its business investment fund

Amanda Murphy
Amanda Murphy

HSBC UK has launched a £250m lending fund to support small and medium-sized enterprises in Lancashire.

The Lancashire fund is part of a wider £12bn SME Fund for businesses across the UK which includes £1bn ring-fenced for overseas trade.

Now entering its fifth year, HSBC UK’s SME Fund is the largest to date – increasing £2bn on last year after the 2017 fund was fully used by British businesses seeking to expand.

Amanda Murphy, the HSBC UK’s head of commercial banking, pictured, 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.”

Mike Hemingway, HSBC UK’s regional director for the North, said: “This latest fund highlights HSBC UK’s unwavering commitment to supporting the growth of SMEs right across Lancashire, no matter whether they’ve just started out or are an already established business.”