Friday, July 19, 2013

Cross-Border Trade Poised to Grow for Small Businesses

HSBC has set aside U.S. $1 billion in loans for small and medium-sized businesses that are expanding internationally (China, Brazil and Hong Kong, for example).  To pre-qualify, you must run an established business that has annual revenue between $3 million and $500 million, but may or may not have dipped their toes into the international markets.

Head of HSBC's U.S. Business Banking Mark Luppi says the following:
"Based on the research we've done, 27% of small businesses are doing some sort of cross-border [transaction].  We expect that to grow to 40% over the next 12 to 24 months."
Read entire article here.

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