HSBC UK launches Bounce Back Loans to support small businesses

A Royal Warrant holder, Tricker’s, whose Northampton factory closed for the first time in the company’s history in March, alongside its London Jermyn Street Store, is one of England’s longest established shoemakers and is known for its outstanding manufacturing quality and durability. The additional facility from HSBC UK will support the company and its 96 colleagues during these uncertain times, ensuring that it remains in the best possible position to resume ‘business as usual’ when the factory reopens.

Martin Mason, Managing Director of Tricker’s, commented: “We’re the oldest footwear factory in Northampton and it’s very important that industries like ours are supported during these challenging times so we can get back up and running as quickly as possible post Covid-19. We were extremely encouraged and pleased by the additional support we received from HSBC UK which will support our whole business.”

Nick Broome, Relationship Director, South Midlands Corporate Centre, HSBC UK, said:
“HSBC UK is committed to supporting its customers during this period of uncertainty, and we were delighted to be able to support Tricker’s with an additional facility during these times to help ensure they are in the best possible position to resume ‘business as usual’ when the restrictions are lifted.” More information about Tricker’s can be found on their website, at www.trickers.com

HSBC UK is working closely with the Government and UK Finance to identify emerging issues and make sure customers and businesses have the advice and support they need. For tips and advice for businesses around planning for any possible disruption, visit www.business.hsbc.com/novel-coronavirus.

The new measures build upon the package of support that HSBC UK has already announced for business customers:

• Removed the £100 Small Business Loan fee to relieve the pressure faced by SMEs across the country
• Removed informal overdraft fees – As of 1st April we will no longer apply any Informal Overdraft fees
• Offering repayment holidays to free up cash within businesses
• Stopped all unauthorised overdraft charges
• Launched CBILS, CLBILS and CCFF
• Reviewing overdrafts or trade loans to allow stock to be held for longer
• Offering companies involved in the supply and manufacture of ventilators preferential pricing, extended repayment terms on loans and fast track approval times to support the unprecedented demand on UK hospitals.
• We have also extended that support to customers that can give immediate help to essential public services and vulnerable people. We are contacting clients involved in the manufacture and supply of Personal Protective Equipment to offer preferential finance and, where possible, the direct purchase of supplies and equipment for essential public services.
• We will also offer similar terms to clients involved in the wholesale of food.
• Our relationship managers have been proactively contacting customers to see what help their businesses need.
• We’ve launched a coronavirus helpline to support any customer queries and a dedicated coronavirus hub on our website.

Trade

• £3bn to importers and exporters that need additional support*
• pre-approved 60-day extensions on trade loans for customers with a sound trade loan/financing record
• a one-hour turnaround on the issuance of Shipping Guarantees, enabling customers to transfer or receive goods from their counterparty faster
• a dedicated helpline that connects directly with trade finance specialists (0800 783 1300, open 9am – 5pm Monday to Friday), in addition to the support being offered by relationship managers

Media enquiries to:

For the latest news and updates, visit the HSBC UK newsroom:
https://www.about.hsbc.co.uk/news-and-media

Northampton shoe manufacturer secures support from HSBC UK (2-page PDF 143KB)