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HSBC business loans overview
HSBC is one of the world’s largest banking and financial services organisations and it serves millions of customers worldwide. The bank was founded in 1836 to facilitate trade between Europe and Asia.
HSBC has a high rate of approval for business lending (93% for loans up to £30,000, as of 2017) and says it is committed to helping British businesses take the first necessary steps to scale the ladder of success. If you need a loan, you can apply via the HSBC site.
See how much it'll cost you to take out a HSBC loan
HSBC business loans comparison
HSBC business loans
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Quick overview of HSBC business loans
Minimum trading period | Not specified |
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Loan terms | From 12 to 240 months |
Loan amounts | From £1,000 to £25,000,000 |
Minimum turnover | Not specified |
HSBC small business loans
HSBC offers fixed rate loans for small businesses looking to borrow up to £10,000,000, with loan terms between 12 and 12 years. HSBC small business loans have a representative APR of 7.1% for loans between £1,000 and £10,000,000.
HSBC business overdraft
If you already have an HSBC Business Current Account, you can borrow money without needing to use security (subject to approval) by using a business overdraft. The interest rate you receive will be linked to the Bank of England base rate. Learn more about business banking.
HSBC asset finance
HSBC asset and equipment finance is designed to let your company access better equipment, vehicles and software today, rather than having to save and wait. You can learn more about asset financing or compare deals from a range of lenders.
What other business finance products does HSBC offer?
- Fixed and variable rate loans
A fixed rate loan means you’re protected from increases in interest rates, and can budget with certainty, while a variable rate exposes you to potential increases in interest rates, but could also mean you benefit from any reductions in rates. See HSBC’s current deals or compare fixed rate deals from multiple lenders. - Business credit cards
Need a small, ongoing, flexible line of credit? An HSBC business credit card could do the trick. Check out our review or compare all business credit cards. - Invoice financing
HSBC’s invoice discounting service could help your firm maintain a healthy cash flow. Learn more about how invoice financing works or compare invoice financing deals for your business. - Commercial mortgages
Scaling-up or relocating? HSBC offers commercial mortgages too. Learn more about commercial mortgages or discover options suited to your business.
HSBC business loan rates
HSBC small business loans have a 7.1% representative APR on loans between £1,000 and £10,000,000, but the interest rate you receive will vary based on your business’ application and financial situation, as well as the size and length of your loan.
HSBC business overdrafts have a variable representative EAR of 11.19%, with the overdraft facility offered with at least a 4% margin over the Bank of England base rate.
Am I eligible for a HSBC business loan?
You should only apply for a HSBC business loan if you’re certain you can meet the repayment terms.
Here are the criteria that you will personally need to meet in order to be eligible for an HSBC Small Business Loan:
- UK resident for at least three years
- Over 18 years old
- Good credit rating without a history of county court judgments or bankruptcy
Information HSBC will need to process your loan application
HSBC will need to know the following:
- A full rundown of how your business operates
- How your particular skills and experience will help you achieve your goals
- Information on how the money you want to borrow fits into your larger goals
- The period over which you want to borrow your money
Proof the bank will need to see to approve your application
- Security/assets. It will often need to see security in the form of guarantees, property or other types of assets that are easy to value.
- Other business interests. It will need to see how many other commitments you and your business will have in order to ensure that you can dedicate the appropriate amount of time in order to grow it properly and make your loan repayments.
- Cash flow forecast. You need to be able to prove that you have a logical and well thought out business strategy and model.
- Financial accounts. The bank will need to see evidence of your past financial history.
HSBC states that its business loans should not be used for anything other than the purpose of investing in your business. Absolutely no personal purchases are allowed.
HSBC customer reviews and complaints
HSBC received a high score in our 2024 customer satisfaction survey, with 97% of its business loan customers saying they would recommend the brand to a friend. Many respondents said how impressed they were by the customer service, while others commented on how good the loan rates were. One HSBC business loan customer described how it was “an easy process, with a decent interest rate and dedicated staff”.
On Trustpilot, however, HSBC bank as a whole is rated “Poor”, with a score of 1.9 out of 5 stars based on over 9,100 reviews (updated October 2024). Some of the customers posting negative reviews on this platform cited the unexpected closure of their bank account, as well as difficulties with the customer services team.
The HSBC app has a rating of 4.8 out of 5 stars based on more than 1.4 million reviews on the App Store, and a rating of 4.7 out of 5 stars based on over 309,000 reviews on the Google Play Store (updated October 2024).
There are very few references to HSBC business loans on Reddit, with a handful of users on the forum mentioning they had not been successful in their business loan applications.
What can’t HSBC do?
Looking for something else? Outside of the HSBC services listed above, you could also consider the following finance products for your business.
Merchant cash advance
Get a lump sum upfront to repay in-line with volume of future sales. Compare deals and learn how business cash advances work.
Business line of credit
Borrow only as much as you need, when you need it, then repay on terms that suit you. Compare a range of lenders.
Business loans for bad credit
Frequently asked questions
Business loans ratings
Finder scores, in blue, are based on our expert analysis. We also show reviews from users, where we've received more than 10, with a score in yellow. We gather more reviews from customers every year in Finder's customer satisfaction survey.
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