HSBC offers a wide range of business loans for companies of all sizes. Read on to learn about the various deals that are currently available.
HSBC is one of the world’s largest banking and financial services organisations and it serves millions of customers worldwide. The bank was founded in 1836 to facilitate trade between Europe and Asia.
HSBC has a high rate of approval for business lending (93% for loans up to £30,000, as of 2017) and says it is committed to helping British businesses take the first necessary steps to scale the ladder of success. If you need a loan, you can apply via the HSBC site.
How can we help?
Compare loan rates
Get live, personalised quotes from a large panel of lenders through our partner Funding Options.Compare now
Unlock the value in your invoices today to access the funding your business needs to move forward.Get quick quotes
Borrow against equipment or property to accelerate your company’s growth.Get quick quotes
Explaining the HSBC Small Business Loan
- Fixed monthly repayments mean you’ll know what you’re going to be paying.
- You don’t have to be an existing HSBC customer.
- There are no charges for extra loan repayments.
- You can delay your first payment for three months.
- Your repayment terms can be anywhere from 12 months to 10 years.
- You can offset the interest against your tax liabilities.
Key features of HSBC Small Business Loans at a glance
Interest rates are fixed for the duration of your repayment period, however the rate you’re offered will depend on factors like the amount you apply for, the term of the loan, your credit rating and your income. It may differ from the advertised Representative APR.
Am I eligible for a HSBC business loan?
You should only apply for a HSBC business loan if you’re certain you can meet the repayment terms.
Here are the criteria that you will personally need to meet in order to be eligible for an HSBC Small Business Loan:
- UK resident for at least three years
- Over 18 years old
- Good credit rating without a history of county court judgments or bankruptcy
Information HSBC will need to process your loan application
HSBC will need to know the following:
- A full rundown of how your business operates
- How your particular skills and experience will help you achieve your goals
- Information on how the money you want to borrow fits into your larger goals
- The period over which you want to borrow your money
Proof the bank will need to see to approve your application
HSBC states that these loans should not be used for anything other than the purpose of investing in your business. Absolutely no personal purchases are allowed.
How can I apply?
To apply online for a Small Business Loan, go to www.business.hsbc.uk.
Frequently asked questions