HSBC ambitions to approve 80% of SME applications

The Commercial Banking arm of HSBC has published figures showing that they have provided £771m of gross new lending to SMEs based in the North East, during the first two quarters of 2012.

The published figures show that in the North East, 50,000 businesses have used HSBC’s lending facilities, and £6.3bn of new business loans was provided to SMEs across the whole of England.

The bank now says it is aiming to approve at least 80% of applications for finance from SMEs. 

HSBC is also launching a £4bn International SME Fund – supporting businesses that are involved with overseas trading, or have a desire to do so in the future.

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