SCB expands SME market with 150% LTV lending for up to 30 years
Siam Commercial Bank has launched an “SME Ready 2 Grow” campaign as part of its continuous effort to provide small- and medium-size enterprise (SME) operators access to financial opportunities and products.
SCB announced in a press statement that it is ready to lend up to 150% loan-to-value (LTV) for business expansion or working capital support and 100% LTV for workplace purchases with a maximum loan term of 30 years. For business start-up loans, the bank is ready to offer 90% LTV lending for up to 10 years.
To participate in propelling the national e-payment development strategy for a cashless society, SCB provided SME operators with Electronic Data Capture (EDC) services together with cheque books to boost performance efficiency and business transaction volumes, the statement added.
The bank also joined with True Corporation PCL, the first mobile operator in Thailand offering 4G LTE service and the Internet of Things (IOT), to boost the convenience of daily living and business performance, and further support SME businesses by giving out monthly TrueMove H sim cards with lucky numbers and monthly service discounts of up to Bt6,000 for clients participating in the program.
