HSBC sets up US$5 billion SME fund
08-12-2008
Banking giant HSBC has set up a five-billion US dollar fund for small and medium sized businesses to increase access to credit. HSBC said in a statement that the first phase would involve a 2-billion US dollar fund for the bank's Hong Kong and United Kingdom operations. It said local companies who had taken part in the government's SME loan guarantee scheme would be given priority when applying for the loans.
