HSBC Bank USA, N.A. announced today it will be adding another $1 billion to it’s international loan program for small- and medium-size U.S. businesses. The purpose of the program is to help business owners export or grow internationally.
“The program has really struck a chord. We’ve seen interest from a wide variety of U.S. companies and industries eager to seize the opportunity to tap fast growing markets around the world and compete,” said Steve Bottomley, HSBC Group General Manager and Regional Head of Commercial Banking, North America. “We’re doubling the program to $2 billion so that we can provide even more U.S. businesses with access to financing, as well as HSBC’s unmatched global footprint and expertise, to help them and the U.S. economy grow.”
The nature of small business lending is definitely changing. Specialty loan products that meet specific needs are successfully linking borrowers and lenders. Whether it’s equipment financing, real estate, or financial products specifically designed to help small Main Street merchants, forward-thinking lenders are creating loan products designed to help businesses grow, just like this export-focused program being promoted by HBSC.
“Research shows there is a consistent and positive link between small and medium sized companies’ capital investments and innovation and export success,” said Mark Luppi, HSBC Executive Vice President and Head of U.S. Business Banking. “We’d like to encourage small and medium size American businesses to consider HSBC’s $2 billion international loan program as an effective resource to propel their operations abroad.”
HSBC’s program is designed to help small businesses with at least $3 million in annual revenue who are currently doing business internationally or are planning to do so. What are you doing to offer unique and targeted loan products to meet the needs of small business?