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|COMMENT: HSBC commits £10 billion to SME lending, but will this work for all small businesses?|
|Tuesday, 19 April 2016|
Aamar Aslam, CEO of Funding Invoice, comments on the £10bn SME loan chest set up by HSBC: “With a potential Brexit currently creating a great deal of uncertainty for small businesses, it’s welcome news that HSBC is committing to such a large fund for small and medium size businesses (SMEs) in the UK. The number of SMEs is continuing to grow year-on-year, so this fund will be an important resource for organisations that are looking to grow.
"However, even though banks are stepping up their lending to small businesses, such loans won’t be suitable for all. Some businesses may find themselves outside of the standard eligibility criteria and therefore turned away by the big lenders.
"With alternative finance continuing to grow in popularity, there are a now multitude of options available to SMEs that are looking for funding, so businesses must ensure they explore all possible avenues in order to find the solution that is best suited to their individual needs.”
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