HSBC Malta launches trade finance initiatives

Times of Malta


HSBC Bank Malta has launched a series of measures to further support businesses negatively affected by the Covid-19 outbreak. 

It said the measures are tailored to those customers facing supply chain disruption including delays in receiving both goods and payments.

The first measure is a 90-day extension on trade loan maturity dates to assist customers experiencing delays in the receipt of goods and/or selling/obtaining payments from debtors.

The second is a 90-day extension on the funding period of specific receivables finance dues which will enable customers to avoid having to repay funds when invoices fall over-due, thus relieving further strain on cash flows. 

The initiatives build on the support already in place for business customers affected by Covid-19, including capital repayment holidays, fee-free temporary short-term working capital funding, faster turnaround on issuance of shipping guarantees and waiver of related urgency fees and the waiver of amendment fees on letters of credit impacted by delays.

Specific terms and conditions may apply on the support measures. Further information may be obtained from the bank.

Tags: COVID-19 | Finance | Trade |