HSBC have confirmed their commitment to supporting North East business growth by announcing a new SME fund which has £100m ringfenced to lend to businesses in the region in 2014.
HSBC has allocated this finance specifically for North East SMEs after research showed 2014 could mark a turning point for businesses in the region. The bank's Business of Growth report indicates that firms in the region are looking to capitalise on the UK's economic recovery by investing in expansion. The report predicts a 7.1% increase in fixed investment on physical assets, including machinery, premises and stock, in 2014.
If you are looking to enter new markets, purchase new equipment, or need additional working capital the funding may help your business to reach its potential.
To investigate whether this could help your business arrange an appointment at a HSBC Business Specialist branch by calling 0800 587 0644.
