Businesses across the UK are facing supply chain disruption, with delays in receiving both goods and payments, leaving many with a gap in their working capital cycle.
To cover this short-term gap, HSBC UK is offering:
The new measures build upon the package of support that HSBC UK has already announced for business customers.
The Bank’s trade specialists across the UK have been talking to importers and exporters to discuss the financial support that they might need in this fast-moving situation.
Ian Tandy, Head of Trade for HSBC UK, said: “Our international customers are telling us that they are concerned about short term working capital, ability to forecast their cash position in the short term and access to finance.”
“As one of the world’s leading trade banks, we are committed to supporting importers and exporters in the UK. Our trade finance specialists are keen to understand the challenges that currently face these businesses and are doing all they can to tailor financial solutions to alleviate some of these challenges.”
“We’d ask all international business customers to contact their relationship managers or the dedicated number as soon as they begin to see strains in their working capital cycle so that we can move quickly to minimise disruption.”
Note to editors
*Allocated from HSBC UK’s £14bn SME Lending Fund
The previously announced support package included:
HSBC UK serves around 14.5 million customers across the UK, supported by 32,000 colleagues. HSBC UK offers a complete range of retail banking and wealth management to personal and private banking customers, as well as commercial banking for small to medium businesses and large corporates.
HSBC Holdings plc
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. HSBC serves customers worldwide from offices in 64 countries and territories in our geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of US$2,715bn at 31 December 2019, HSBC is one of the world’s largest banking and financial services organisations.