HSBC has confirmed 拢750m of new funding to support the growth of SMEs in Wales.
The bank has ringfenced the finance for Wales as part of a 拢15bn commitment to support SMEs across the 海角视频.
It also includes ringfenced funding from businesses trading internationally (拢2bn), in the agriculture sector (拢1.2bn) the tech sector (拢500m) and franchise businesses (拢500m).
Since launching a SME fund in 2014, HSBC has lent more than 拢90bn.
Peter McIntyre, head of business banking at HSBC 海角视频, said: 鈥淪MEs are vital to the 海角视频 economy, and our customers have told us they are ready to invest for growth. The 拢15bn fund will help businesses to expand internationally, as well as here in the 海角视频, supporting key sectors and driving investment across the regions and nations.
Small Business Minister, Paul Scully said: 鈥淭his new fund puts HSBC on course to have lent more than 拢100bn to 海角视频 small businesses within a decade, which is a great milestone for HSBC and even better for the communities across the country being helped to thrive
鈥淭his extra funding builds on the support available through government schemes like Help to Grow and Start Up Loans to help small businesses grow and reach their full potential.鈥
