TMB, Kbank seek to ease small firms' access to lending
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Two banks are actively luring small enterprises by designing products to help them access loans quickly.
Paphon Mangkhalathanakun, chief SME and supply-chain officer of TMB Bank, said it had launched a “Three Times, Three Step Funding” credit programme, through which customers can ensure that they will have enough liquidity to operate as the life of their businesses progresses.
TMB helps customers forecast their cash flows based on their banking-transaction records and prepare funding plans right from the beginning. TMB relationship managers and the SME Contact Centre team will be regularly in touch with customers to ensure that they enjoy the full advantages and benefits of this product.
At the same time, unnecessary processes have been eliminated to enhance customer convenience and ease access to funding, enabling them to be in control of the financial matters of their businesses.
The product is designed for customers with turnover of Bt500 million or less.
When approved, TMB will provide an overdraft loan of up to three times collateral-asset value.
As the second step, customers can request an additional 15 per cent on top of the approved loan for unforeseen needs, within three working days, without having to submit a new application.
After the launch of Three Times, Three Steps Funding, TMB expects lending of Bt8 billion.
Meanwhile Kasikornbank, the market leader in loans to small and medium-sized enterprises, has launched “KSME Credit: Easy and Worry-Free”, which will verify customers’ payment ability from evidence including sale slips, order documents, and water and electricity bills. The bank may also visit the business sites and inventories.
The bank expects to provide Bt5 billion in loans under this programme for 2,000 small-business operators in retail, wholesale trade, service, manufacturing, and others.
