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HSBC to extend US$641 million in pre-approved loans to aid Hong Kong SMEs

SCMP LogoSCMP2d ago

HSBC to extend US$641 million in pre-approved loans to aid Hong Kong SMEs - SCMP

Quick Summary:

Initiative aims to ease access to capital for entrepreneurs who are looking to invest at the beginning of a rate-cut cycle.

HSBC was the first lender to cut its prime lending rate by a quarter point last Friday, its first rate cut since November 2019.“HSBC has been standing by the business community by offering liquidity relief and financing options throughout and beyond the pandemic,” said Frank Fang, HSBC’s general manager and head of commercial banking for Hong Kong and Macau.“Today’s announcement reinforces our commitment to helping SMEs enhance their financial resilience through customer-centric solutions driven by data and technology.

The initiative seeks to ease access to capital for entrepreneurs who are looking to invest at the beginning of a rate-cut cycle.

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Article Details

Author / Journalist: Enoch Yiu

Category: Business

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-25 @ 10:00:53 (2 days ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 225 words

Reading Time: 2 minutes read

Sentences: 6 lines

Sentence Length: 38 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 22702852

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Main Topics: Business

Official Website: scmp.com

Update Frequency: 17 posts per day

Year Established: 1903

Headquarters: Hong Kong

News Last Updated: 6 hours ago

Coverage Areas: Hong Kong

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Publication Timezone: GMT +8:00

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News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #42

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  • URL: https://beamstart.com/news/hsbc-to-extend-us641-million-17272417746032

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