SME Bank inks franchisee loan deal with Wawee Coffee
The Small and Medium Enterprise Development Bank of Thailand (SME Bank) on Monday signed an agreement with Wawee Coffee for the provision of loans to small and medium-sized operators interested in becoming franchisees of the coffee-shop chain.
The loans will come with an interest rate of 3 per cent for the first three years of a seven-year repayment term, and a grace period during the first year, SME Bank president Mongkon Leelatham said.
Wawee Coffee managing director Karisith PooSuwan said the company currently had 10 new franchisees each planning to open a coffee shop under the brand this year, while it was targeting opening up to 100 franchise outlets by the end of 2020.
Franchisees will fall into one of three sizes, depending on the investment budget required, he said.
Small outlets require funding of up to Bt2 million, medium-sized operations need up to Bt3 million, and larger businesses up to Bt4 million, he added.
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