Teamwork the name of the business investment game, says financial expert
Partnership working is helping to open up lending opportunities to businesses across the region, according to a leading financial expert.
Lee Bloodworth, HSBC International Commercial Manager, believes teamwork can often be the name of the game when it comes to providing the best funding solutions for businesses.
HSBC bank has teamed up with Finance Yorkshire to provide assistance to a number of companies – and the partnership approach is, quite literally, paying off.
Said Lee: “At a time when the financial sector has faced much criticism, HSBC have continued to offer funding to quality business proposals and our lending criteria has remained consistent.
“In line with our stated aim of supporting local businesses, we have teamed up with Finance Yorkshire to help companies in Yorkshire and the Humber achieve their goals and aspirations.
“Through cross-recommendation we have been able to provide the best solutions for our customers' requirements across the region.
“A recent example of the success of this relationship has been the lending package provided to the Sheffield-based business, The Laser Cutting Company Limited. Between us, our combined facilities have enabled the company to acquire new, state-of-the-art machinery that will allow them to increase both turnaround times and production capacity.”
HSBC is working alongside Finance Yorkshire to provide financial support for businesses across Yorkshire, the Humber and North and North East Lincolnshire.
Finance Yorkshire can provide seedcorn, loan and equity linked investments, ranging from £15,000 to £2million, specifically to help small and medium sized businesses meet the gaps in the market for the funding they need for growth and development.
Lee explained: “In HSBC’s South Yorkshire Commercial Centre, we have a wealth of experience and knowledge, and we are always looking to support new ideas and viable lending requests through the wide range of products we have available.
“Furthermore, our relationship with Finance Yorkshire enables us to reach out to an even larger number of companies and lending opportunities. Our closely aligned values and objectives culminate in a strong relationship which can offer many benefits to our mutual customers.
“While the economic climate across the UK remains challenging, there is no doubting the determination of businesses in Yorkshire to succeed.
“Our key advice to all businesses requiring funding support would be to examine every opportunity before making any decisions. Businesses can be reassured that HSBC will be working alongside Finance Yorkshire to continue to provide the right solutions for organisations in the region.”
Ian Howson, Investment Manager at Finance Yorkshire said: “Finance Yorkshire’s finance packages have been designed to help complete those projects that may not otherwise happen - by complementing finance available from banks and other lenders.
“An investment like the Laser Cutting Company is a great example of how, by working together, Finance Yorkshire and banks like HSBC can fill the lending gap to help businesses meet their needs for growth.”
Finance Yorkshire is supported financially by the European Union. It has attracted £30million investment from the European Regional Development Fund (ERDF) as part of Europe’s support for the region’s economic development through the Yorkshire and Humber ERDF Programme, £15million from Yorkshire Forward’s Single Programme, and £45million match funding from the European Investment Bank.
For more information about Finance Yorkshire, please visit www.finance-yorkshire.com or ring 0845 649 0000.
Note: this news article is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire