The Caisse de dépôt et placement du Québec and HSBC Bank Canada join forces to support international expansion of Québec SMEs

The Caisse de dépôt et placement du Québec and HSBC Bank Canada today announced that they have signed a cooperation agreement to support and accelerate the expansion and growth opportunities of Québec companies wishing to do business internationally.

This three-year agreement will assist small and medium-sized enterprises (SMEs) who aspire to develop business internationally with the implementation of their projects, including expansion, acquisition and investment activities. Together, the Caisse de dépôt et placement du Québec and HSBC Bank Canada will offer qualified SMEs financing for projects of 10 million dollars and more, as well as banking services.

“One of the enduring barriers for SMEs doing business internationally is the lack of overseas knowledge and contacts, and so we are very pleased to work with the Caisse in supporting Québec companies that want to expand around the world,” said Lindsay Gordon, President and Chief Executive Officer, HSBC Bank Canada.

“Québec companies face major hurdles internationally,” said Michael Sabia, President and Chief Executive Officer of the Caisse. “For SMEs, acquisition and expansion project financing is difficult to find. Our goal is to support their efforts. We are very proud to work with HSBC Bank Canada, a bank whose renowned expertise and extensive global network will complement our efforts to help promising and successful Québec companies."