HSBC UK Covid-19 lending reaches £2.2 billion
HSBC UK, which has its headquarters in Birmingham, had approved £765.2 million under the Coronavirus Business Interruption Loan Scheme by April 28.
So far it has approved 5,295 applications and wider Covid-19 related lending, including CBILS, has reached £2.2 billion.
HSBC has reduced the minimum amount that sole traders and partnerships can borrow from £25,001 to £10,000 to make it easier for smaller businesses to access liquidity and it will not require personal guarantees for loans under £250,000.
The bank has launched an online portal which allows customers to apply via the HSBC UK public website.
It is waiving late payment fees for a 90-day period from April 27 to July 26 on all Commercial credit card and company card accounts and has launched an extra three months of free business banking for start-ups.
HSBC will be launching bounce back loans next week to help small businesses to quickly access the vital funds they need to keep operating.
