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HSBC Launches $1B Loan Program for Businesses to Expand Internationally

Stocks in this article: HBC

The HSBC international loan program is part of a broader global effort by the bank to help small and medium-sized businesses develop and capitalize on international opportunities. HSBC also offers cash management services, trade services and foreign exchange services to small businesses. The company doesn't break out its small business lending figures, but Luppi said application volume has jumped 30% over the last year.

"We're looking for customers that are aligned to our target segment that are looking to go cross border," Luppi said, which includes businesses such as those providing hard goods, consulting or professional services that already have locations internationally or those that don't.

Luppi says while it isn't a requirement for a company to already have physical locations abroad, HSBC does want to see a "solid business plan" for expansion.

"We do want to really understand your plan," he said.

-- Written by Laurie Kulikowski in New York.

To contact Laurie Kulikowski, send an email to: Laurie.Kulikowski@thestreet.com.

>To submit a news tip, email: tips@thestreet.com.



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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.
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