Bangkok--25 Apr--TMB
“Three Times, Three Steps Funding” an innovative credit product for SMEs, with an aim to be a trusted long-term supporter who provides SMEs with adequate funding in the three crucial stages of their business life cycle and provide yet another TMB innovative product to serve their unmet needs.
The product enables customers to have greater financial control by providing them a better choice than the status quo which presently exists in the Thai banking industry. Difficulty to access funding is still the primary concerns of SMEs.
“TMB wants to free them from these worries by offering products and services which relieve customer’s from the pain when it comes to financial management,” Mr. Paphon Mangkhalathanakun, Chief SME and Supply Chain Officer of TMB, said. “During our face-to-face research with SME customers, they told us that they want to be free from worry about the lack of funding in the three significant stages of their business life cycle, especially at the stages of business growth, unforeseen contingent capacity increases and expansion. Through this newly-invented product, TMB will be by our customers to provide financial support during all those three stages and become their long-term partner.
“With Three Times, Three Steps Funding from TMB, customers can rest assured that they will have enough liquidity to run their business in the three crucial states of their business life cycle. These are made possible because we get to understand customer behaviours and their businesses thoroughly. We help customers forecast their cash flows based on their banking transaction records and prepare customer funding plan ahead right from the beginning. TMB Relationship Managers and SME Contact Center team will be regularly in touch with customers to ensure that customers get the full advantages and benefits from using this product. At the same time, unnecessary processes, have been eliminated in order to enhance customer convenience and easy access to funding, enabling customers to be in control of the financial matter for their businesses. This innovative product requires no new l application submission when customers want to take up loan at the second and third steps.”
Three Times, Three Steps Funding is designed for customers with turn over of THB500 million and below. When approved, TMB will provide an overdraft loan of up to three times of collateral asset value. Additionally, as the second step of support, customers could request for additional 15% on top of the approved loan for unforeseen, within three working days, without having to submit a new application. Additional funding will be available, as the third step of the product feature, when customers want to get more financial support for business expansion. Funding at the third step could be equal to the value of the original collateral as a maximum. Customers who sign up for Three Times, Three Steps Funding will have adequate flow of fund planned for their three crucial business states, without having to encounter the burden of submitting new loan application and face uncertainties.
Mr. Paphon added that Three Times, Three Steps Funding evolved from the well-received Three Time SME Credit and Quick Three Times SME Credit which were innovated by TMB based on customer’s unmet needs. The two products turned out to be market-firsts and created the banking industry’s blueprint for change. About 13,400 customers are now using the products, with THB75,000 million total outstanding loans -- a three-time increase since the product launches. It is expected that additional loans to be taken after the launch of Three Times, Three Steps Funding, for the second and third steps will be THB8,000 million.
“The latest Three Times, Three Steps Funding demonstrates that we do not only invented new products to serve customer’s unmet needs, but also continue to enhance our innovation. We even challenge ourselves and never stop innovating to improve the quality of our products and services to better serve customers according to their needs and enable them to have greater control of their financial life.
Interested SME business operators could contact TMB Contact Center on 1558 to learn more about Three Times, Three Steps Funding or visit tmbbank.com.