Bangkok--27 Apr--TMB Bank
As part of its customer-centric strategy, TMB Bank Plc is increasing its support for Thai SMEs with the launch of “TMB SME 3 Times Credit,” which is designed to appeal to small and medium-sized enterprises. The new initiative offers loans of up to three times a customer’s collateral value with a Minimum Overdraft Rate (MOR) of up to -1.50%. The new “TMB SME 3 Times Credit” is available through the 50 SME Zone Offices nationwide.
According to Mr. Sayam Prasitsirigul, Chief SME Banking Officer, “The major problem that SMEs face today is the complex process of applying for a loan from a financial institution with very complicated conditions — and often, the loan amounts approved are lower than what they really need to run the businesses. This means SMEs have an insufficient amount to use as a revolving fund to support their operations or make further investments during the current economic situation. ‘TMB SME 3 Times Credit’ reflects TMB’s understanding of our customers’ needs and values to create long-lasting relationships.”
As part of its customer-centric strategy that is driving its service with world-class financial solutions, TMB has launched new “TMB SME 3 Times Credit” to provide overdraft loans in support of purchases from suppliers with a maximum credit line of up to three times the value of the collateral. The loans will be extended to SMEs with annual sales of 50 to 500 million baht that have collateral assets valued at up to 200 million baht, not including the value of their land plots.
For “TMB SME 3 Times Credit,” the Bank will provide the borrowers with an accounting management service to make payments directly to the borrowers’ suppliers, replacing payment by check. This will help to prevent a shortage of working capital liquidity. As a result, the borrower’s credit worthiness will rise while suppliers can rest assured they will receive the fund transfers.
TMB will approve a credit line that reflects the borrower’s sales and obligations to make payments for purchases from suppliers. The interest for the credit is MOR-1.50% if the customer uses bank deposit accounts as collateral, or MOR-1.00% if the customer uses land plots as collateral.
TMB is putting a stronger focus on its SME customers. In late 2008, the Bank’s customer relationship team was restructured to ensure its SME loan service can provide more detailed advice and enhanced services to customers. TMB classified SMEs into two groups, which are medium SMEs with annual sales of 50 to 500 million baht and small SMEs with annual sales of lower than 50 million baht.
As a special offer, the first 333 companies that apply for “TMB SME 3 Times Credit” at the 9th Money Expo between May 7 to 10, 2009, submit the full application until June 12, 2009, and receive the Bank’s approval, will receive a discount on front-end fees of up to 10,000 baht. In addition to the “TMB SME 3 Times Credit,” TMB also offers a wide range of loan services catering to the various needs of SME customers. Interested SMEs can contact any of the 50 SME Zone Offices nationwide or call TMB Phone Banking at Tel. 1588 for more information and to obtain the service.