HSBC Bank USA has launched a $1 billion, 18-month dedicated loan program aimed at small- and medium-sized businesses that want to export or expand internationally.
“Putting financing into the hands of small- and medium-sized businesses is critical, as they make up more than 97 percent of all U.S. exporters,” said Mark Luppi, HSBC executive vice president and head of U.S. Business Banking, in a statement.
A recent HSBC report found that Northeast-based publicly listed companies that were “highly internationalized” had the widest profit margin spread of all U.S. regions, and double the average national profit margin spread of 5 percent.
The new loan program is open to new and current HSBC customers with annual revenue of $3 million to $500 million, with an interest in cross-border trade or global expansion.
For more information on the program, go to www.us.hsbc.com/accelerate.