Miss Duangkamol Limpuangthip, Krungsri Head of SME Banking Group, said: "As each customer segment demands different financial solutions, Krungsri has designed different products and services for each segment. While the economy is heading up, most SMEs are looking for additional working capital to strengthen their liquidity and prepare for emerging opportunities. An in-depth analysis of customer demands shows small SMEs, some of them being individually-owned, have troubles scrambling for collateral against their preferred loan amounts. Krungsri's Term Palang Kuen Roi SME Loan is designed to support these small SMEs that borrow no more than 10 million baht. We can lend them up to twice the amount of collateral value, or more than 100% of their collateral, and offer the maximum 10-year repayment period, with credit guarantee supports from the Thai Credit Guarantee Corporation (TCG) for both overdraft and term loans. SMEs can disburse the loans as they see fit, for greater flexibility and brighter business prospect in the long term."
The "Term Palang Kuen Roi" SME Loan will extend loans worth 300,000 to 10 million baht and ease borrowers' repayment burden with a long repayment period up to 10 years. The maximum interest charge is no more than MRR + 3.0%. Borrowers can secure the loans with deposits or other assets including shophouses, factories, office buildings and residences (single-detached houses, townhouses or condominiums). Vacant land plots are not applicable. In this regard, the Thai Credit Guarantee Corporation (TCG) provides credit guarantees for viable small enterprises and they are waived from loan protection insurance premiums throughout the borrowing period. Loan applications are welcomed from 15 August 2023 onwards. The application period depends on TCG's outstsanding credit guarantees or the deadline set by TCG.
"Krungsri hopes "Term Palang Kuen Roi" SME Loan will enable our SME customers to move forward and seize new business opportunities as expected. We target to lend 1,000 million baht under this scheme. Aside, Krungsri is ready to continually support our customers with our products, services, knowledge and business opportunities, as their true trusted partner," Miss Duangkamol concluded.
Interested SMEs can obtain more information from Krungsri's Relationship Managers at Tel. 02-626-2626 under prescribed terms.
Source: Bank of Ayudhya PCL