- Turn-around time of 9 days or less
TMB continues to demonstrate that it continues Growing Stronger in 2010 with the launch of its latest SME product: TMB SME OD NO Asset credit facility. This innovation is in response to the needs of small business operators who have collateral constraints for a credit guarantee. The facility helps to boost liquidity and propel growth of small scale SME operators by providing sufficient O/D facilities of up to 10 million Baht without collateral and a turn-around time within 9 days or less.
Mr. Sayam Prasitsirikul, Chief SME Banking Officer of TMB, said “TMB SME OD NO Asset” is yet another product that reinforces the Bank’s focus on providing customers with what they really need.. At the same time, it challenges the status quo of Thailand’s banking industry by understanding our SME customers and providing them with services that can help them to grow in this economic climate.”
Mr. Sayam said “TMB SME OD NO Asset” was developed from the Bank’s research into small scale SME operators with sales turnover of up to 50 million Baht per year. TMB believes this particular segment is crucial in driving the country’s economic engine. . Many SME operators are being underserved, largely due to constraints over collateral. The lack of access to credit facilities stunts their growth, while driving a number of SMEs with a liquidity crunch to resort to personal finance or borrowing from the informal lending sector that charges exorbitant interest rates. At the same time, many SME businesses need to mortgage their assets as collateral and still do not receive a large enough credit line given the low value of their assets. TMB SME OD NO Asset fills these gaps by improving liquidity and enabling SME businesses to expand and growth, by reducing restrictions on collateral requirements.”
Mr. Sayam added that customers applying for “TMB SME OD NO Asset” do not have to provide asset as collateral, as the Bank uses performance as key criteria. The maximum credit line available is 10 million baht, with interest rates between MOR +4.5% up to MOR +8.5% per year. TMB MOR as of today is 6.5%. The money will be available within 9 working days from the time of submission of completed documents. “
Small business operators interested in “TMB SME OD NO Asset” can contact the TMB Business Service Centre nationwide, or call TMB Phone Banking Service 1558 for more information from today.
For more information please contact:
Tel: + 662 299 1950, 1953
+ 662 242 3260