News Column

HSBC adds $1 billion in funding to support Canadian small and medium businesses seeking international growth

January 28, 2014

** Funding available to qualifying new and existing customers with international business requirements** VANCOUVER , Jan. 28, 2014 /CNW/ - HSBC Bank Canada today announced that it will make available an additional $1 billion to support the financing of Canadian small and medium size businesses (SMEs) seeking international growth. This effectively doubles the funding being offered to the end of 2014 from $1 billion to $2 billion , which is available to qualifying new and current HSBC customers with annual revenue of $3 million to $250 million and interest in cross border trading or global expansion. Linda Seymour , Executive Vice President, Head of Commercial Banking, HSBC Bank Canada said: "We are very encouraged by the strong demand for this program since its implementation last year and we feel that this additional commitment will further enable our internationally-minded companies to explore new opportunities while contributing to economic growth in Canada ." HSBC's research continues to show that emerging markets are experiencing growth in many sectors, and our latest Global Connections Trade Forecast report reveals that infrastructure trade is set to triple by 2030. A key driver of growth in Canada will be rising exports, and we are well placed to capitalize on growing demand for commodities in emerging markets. Specifically, petro products, transport equipment and industrial machinery will lead the way for Canadian exports. "This initiative is part of a broader global effort by the bank to support Canadian international companies that wish to take advantage of new opportunities in global trade," Seymour added. HSBC Bank Canada HSBC Bank Canada, a subsidiary of HSBC Holdings plc, is the leading international bank in Canada . With around 6,600 offices in over 80 countries and territories and assets of US$2,723bn at 30 September 2013 , the HSBC Group is one of the world's largest banking and financial services organizations. HSBC Commercial Banking For nearly 150 years we have been where the growth is, connecting customers to opportunities. Today, HSBC Commercial Banking serves businesses ranging from small enterprises to large multinationals in over 60 developed and faster-growing markets around the world. Whether it is working capital, trade finance or payments and cash management solutions, we provide the tools and expertise that businesses need to thrive. With a network covering three quarters of global commerce, we make HSBC the world's leading international trade and business bank. SOURCE HSBC Bank Canada


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Source: Canada Newswire


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