Today HSBC Bank Malta plc will renew its existing and well-received arrangement that it has with Malta Enterprise aimed at assisting small- and medium-sized enterprises.

HSBC is fully committed to nurturing, developing, and supporting the SME sector in Malta, and this collaboration with Malta Enterprise is a key aspect in its strategy. The arrangement centres around three bank schemes designed to facilitate access for SMEs to obtain bank finance. The three schemes are:

• The Loan Guarantee Scheme, which is aimed at supporting SMEs in the manufacturing sector and those that give a direct service to industries in the manufacturing sector. Through this scheme, Malta Enterprise will guarantee up to 50 per cent of any bank finance required, whilst HSBC will allow highly preferential interest rates.

• The Start-Up Loan Guarantee Scheme is designed to assist first time entrepreneurs in the formation and establishment of innovative new enterprises. Under this scheme Malta Enterprise will guarantee up to 75 per cent of any bank finance required, with HSBC again offering advantageous interest rates.

• The Ta’ Qali Scheme, which is similar to the Loan Guarantee Scheme, is intended to help tenants in the building of units at the Ta’ Qali Crafts Village.

Mr James Dunbar-Cousin, head of Commercial Banking for HSBC Bank Malta p.l.c. said, “SMEs play an important role in the Maltese economy and are integral for economic growth. Over the years, HSBC Bank Malta has developed a highly efficient Business Advisory Unit to assist SMEs in benefiting from such schemes as those offered by Malta Enterprise. In the near future we hope to implement further initiatives to enable SMEs to take full advantage of opportunities which offer tax concessions and other government incentives which may become available”.