In unveiling the new SME loan program, SCB Senior Executive Vice President Sirichai Sombutsiri said, “Following the recent reorganization and strengthening of our Business Banking Group, SCB continues to offer new financial products to best respond to SME client needs. Our latest product is the SCB SME 15-Year 150% Loan to Appraisal Value (LTAV) term loan program, featuring a repayment period of up to 15 years and a credit line of up to 1.5 times collateral (core asset) value. Credit facilities on offer include loans, overdrafts (O/D), promissory notes (P/N), letters of guarantee (L/G), clean bill discounts (CBD), aval, documentary letters of credit (DLC), forward contracts, and trade finance. Our target group is small entrepreneurs with annual sales between 10 million — 75 million baht, particularly those seeking funds for business development and working capital, such as factory or warehouse construction, machinery replacement, or branch expansion. SCB is the first bank to offer a loan program with such a long repayment period, featuring reduced monthly installments that will provide SME clients with additional working capital.”
SCB has set a budget of 5 billion baht for this loan program, and aims to be among the top 3 in the SME loan market within the next 3 years. This new SME product launch comes on the back of a previous SME loan program offering a credit line of up to 3 times collateral value with a flat interest rate for 3 years, which have been so successful that the lending target will be extended from 5 billion baht to 10 billion baht to meet client demand.
For more information and loan applications, interested SMEs can visit any of over 70 SCB Business Centers nationwide, call the SCB Business Call Center at 02-722-2222, or visit www.scb.co.th.
Siam Commercial Bank PCL is a leading universal bank in Thailand. It was established by Royal Charter in 1906 as the first Thai Bank and, as at September 30, 2010, had the highest market capitalization among Thai Financial Institutions (Baht 351.8 billion). It has the largest branch (1,005), exchange booth (114), and ATM (7,678) network in the country, attesting to its dominant position in the retail financial services marketplace. It has a diverse range of Corporate, SME, Private, and Retail customers nationwide, and has an asset size of Baht 1,302 Billion (as at August 31, 2010). Further information is available on the Bank's web site at www.scb.co.th.
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