Norfolk businesses are loaned £93.1m

HSBC Bank. Picture: Joe Giddens/PA Wire

HSBC Bank. Picture: Joe Giddens/PA Wire - Credit: PA

Nearly £100m has been loaned out to small and medium-sized businesses by HSBC this year.

Small Norfolk firms have been handed £93.1m worth cash from the bank's SME fund, with the final £6.9m to be awarded before the end of 2014.

The strong uptake shows that businesses in the area are taking advantage of favourable economic conditions and are planning to expand, HSBC said.

Some of the businesses supported by the fund include Norwich-based Harford Attachments, which manufactures excavator attachments, mini buckets, and quick hitches.

The business received a loan from HSBC to acquire a new 50,000sq ft premise.

Harford's clients include Volvo, Takeuchi, and Kubota & Compact Equipment.

Anna Kidd, Harford attachments director, said the new premises will help her business move to the next level by doubling the size of its current manufacturing capacity.