16th June 2017

£500M Welsh SME fund launched

HSBC has launched a £500m fund designed to support small- and medium-sized enterprises (SMEs) in Wales.

The fund is part of a wider £10bn package for SMEs across the UK which has been launched today (16 June) by the bank.

Nigel B Davis, HSBC’s regional director for Wales, said: “The launch of this fund reaffirms our commitment to support the growth of Welsh SMEs of all sizes, from start-ups to established businesses.

“We have so many ambitious businesses in our region who are keen to grow locally, nationally and internationally. This fund is all about helping those businesses make investments that will enable them to achieve their goals while stimulating our local economy and creating jobs.”

The new investment follows a similar £500m package launched last year. Companies to benefit from the 2016 fund included Cellpath, which makes and supplies cellular pathology products and services, which secured a £565,000 finance package from HSBC to extend its site in Newtown.