UOB aids small firms with loan plan

The bank sees greater need for financing by small businesses. With rising domestic private consumption and growing intra-regional trade, small businesses will be looking for expansion opportunities locally and in the region.
UOB Biz 3D will also help small businesses cope with the higher cost of doing business as a result of the increase in the minimum wage.
Sayumrat Maranate, executive director of business banking, said yesterday that to help small businesses prosper in a competitive environment, the bank had set aside funds under a new loan programme.
“The funds will be used to help them fulfil their business ambitions, meet their working-capital needs and improve productivity.”
UOB Biz 3D offers an increase in the credit limit. Companies that qualify can receive a loan of up to three times the collateral value or up to Bt20 million, whichever is higher. Typically, small businesses can only qualify for a maximum loan amount that is not more than the collateral.
Small businesses can use the loan for multiple purposes, from expansion and capital investment to working capital and risk management.
Through a global network of branches, United Overseas Bank (Thai), a subsidiary of UOB Group, provides a wide range of financial services – personal financial services, commercial and corporate banking, and treasury services.
UOB (Thai) is rated among the top banks in Thailand by Fitch Ratings, receiving an “AAA(tha)” national long-term rating.