The new product û Receivables Xpress û will enable SMEs, particularly those unable to pledge collateral but with good receivables, to gain access to financing by converting their receivables to cash more quickly.
HSBC says that the new scheme will provide SMEs with a quick turnaround time, with in-principle approval within five working days. The bank says the application process will be ôhassle-freeö and will not require the submission of physical invoices. In addition, the scheme offers higher loans, which compare favourably with pricing for unsecured overdrafts or short-term loans....
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