An RLS Invoice Finance Facility may be available to you, if you:
- Are (or become) an HSBC Invoice Finance (UK) Ltd client, operating in the UK and generating 50% or more of your business turnover from trading activity in the UK.1
- Operate in a sector that is eligible for an RLS Invoice Finance facility.2
- Have a viable funding proposal and are an eligible applicant.
- Have an annual turnover of £45,000,000 or less.3
- Use the funding for an eligible purpose related to COVID-19. Namely: new/additional finance for working capital, investment and growth, and/or refinancing existing debt/debt consolidation.
- Pass certain insolvency and financial difficulty tests stipulated by applicable subsidy control requirements and the EU state aid rules (which apply to businesses within the scope of the Northern Ireland Protocol).
- You understand that you will be liable for 100% of any facility that may be provided, and that HSBC will always seek to recover the outstanding balance of any facility from you and the proceeds of any security you, or any security provider on your behalf, has given for the loan.
1 “Trading Activity” means any trading or commercial activity that generates turnover (whether or not such activity is carried on with the intention of making a profit).
2 The following sectors and activities are excluded from RLS: Deposit taking Banks and EEA Banks; Building Societies, Insurers (other than insurance brokers), Public sector organisations, State funded primary or secondary schools. An RLS Facility of under £30,000 must not be used in support of export related activities
3 Your turnover or your total group turnover if you are part of a group must not exceed £45,000,000 over the 12 months’ immediately preceding the application for finance or, it is not expected to do so, if you or any of your group companies have not been trading for 12 months.