Kiatnakin Bank loan can be triple the value of collateral
Kiatnakin Bank’s new KK SME 3x loan can be three times the value of property offered as collateral, up to Bt15 million. The repayment period can be as long as 20 years, with an added bonus of a subsidy to the Thai Credit Guarantee Corp’s 1.75-per-cent guarantee fee.
Pattarapong Raktabutr, head of alternative distribution channels at Kiatnakin Bank, which is a member of the Kiatnakin Phatra Financial Group, said KK SME 3x covers three types of credit.
These are term loans, overdrafts and letters of guarantee.
“It’s able to provide borrowers with as much as three times the value of the property being used as collateral – for a maximum of Bt15 million,” Pattarapong said.
“The properties used as collateral include detached houses, condominium rooms, commercial buildings, factory buildings, warehouses and empty land. Loan applicants can utilise the Thai Credit Guarantee Corp to guarantee the loans so they may qualify for a maximum loan repayment period of 20 years.”
This is available only for buyers of assets and for refinancing, however.
“To help customers save on expenses, the bank will shoulder the TCG’s credit guarantee fee throughout the entire contract period, at 1.75 per cent of the loan amount.
“A relationship manager team with specific expertise will also be set up to analyse the client’s business and demands and closely follow up with the client during the entire borrowing period.”
Kiatnakin Bank last year issued more than Bt3 billion worth of loans in its KK SME Car3x programme, an increase of 74 per cent from the previous year.
This year it aims to issue Bt4 billion worth of loans to small and medium-sized businesses.
