Banking group HSBC said that it has allocated £300 million to a new fund dedicated to supporting small and medium-sized businesses in Scotland.
Details of the fund were revealed as the group published its Business of Growth report, which predicts an above average increase in fixed-asset investment which takes into account plant, premises and stock this year.
HSBC Scotland CEO Alison McGregor said: “In 2013, our SME lending grew by 24.7% and we supported 1,661 new SME customers.
“This momentum has continued in 2014 as we see new to mature business innovate and expand, capitalising on the growth opportunities that are emerging as confidence returns. There is a definite willingness to borrow.”
