HSBC UK, founding partners of the Centre for Climate Change Innovation, has announced the launch of a £500m Green SME Fund as part of its commitment to support businesses of all sizes to transition and thrive in a low carbon economy.
The new £500m fund is available for businesses with a turnover of less than £25m and will offer 1% cashback on loans, starting from £1,0002 to help SMEs invest in green activities. This is the first green offering for small businesses with a cashback proposal in the UK.
To qualify for the cashback, evidence must be provided that the use of the loan proceeds meet HSBC’s Eligible Criteria for Green Activities, which have been independently reviewed by Sustainalytics.
The fund is now open to HSBC business customers to apply for online at Green SME Fund | HSBC UK or through their relationship director/manager.
Full news article available on HSBC UK’s website.