Financing Options

What is my best financing option?

Whether you're looking to buy equipment or simply need working capital, different situations call for different solutions with different financing options. And that's where we can help you make a wise decision.

With years of experience helping other small businesses, we understand this is your business, and you deserve individual attention. Together we can find the ideal solution for your needs. We'll take the time to put together the best financing package available, with an amount and term that suits your business, at a competitive rate. Options to consider include:

• Lines of Credit

  For short-term working capital needs, or seasonal fluctuations, a Line of Credit may be your best solution. However the larger the line of credit you apply for, you only pay interest on the money you need to use, thereby reducing overall payments. There are no interest expenses on unused portions of your credit. With a phone call, the funds you need are transferred to your HSBC business checking account. The credit is also reusable as you repay the outstanding balance.
  

• Term Loans

  For financing the purchase of equipment, vehicles, or machinery, the basic building block of business credit is the term loan. HSBC can help tailor your loan to a specific use, with terms up to seven years, depending on your company's financial status and other considerations.
  

• MasterCard BusinessCard®

  Travel and entertainment expenses are a cost of doing business. But they don't have to be a cause of concern. When you and your selected employees carry a MasterCard BusinessCard, it's easier to control T&E expenses. You can set individual spending limits for each employee. And to assist you in monitoring account usage, we can provide detailed statements of expenses.

  Overdraft Protection
  In your personal life, an overdrawn check can be an embarrassment. In business, it can affect your credit. A simple safeguard for your everyday cash flow, overdraft protection can prevent problems with suppliers, employees, and your customers. Should a check be presented when there are insufficient funds, your Line of Credit automatically covers the amount you need.

• Letters of Credit

  Standby Letters of Credit are indispensable tools for companies that are required to post a performance bond. In situations of potentially high cash outlay, our letters provide financial security and confidence. Our Import and Export Letters of Credit are an equally valuable resource for importers and exporters. We give you access to a network of over 9,800 branches in 77 countries. This means you can take advantage of our strengths, with the convenience and reliability of our Letters of Credit for a variety of international trade activities.
  

• Other Financing Options

  New and growing businesses have special needs and considerations. So you have a range of other financing options to consider. HSBC participates in numerous governmental programs, making federal, state, and county assistance available to your company if you qualify. For example, SBA guaranteed loans are a government-sponsored solution. We are one of the leading SBA lenders in New York State.