Bangkok--6 Oct--TMB
TMB, reinforcing its strategy in support of SME operators whose business turnover is less than 500 million baht per year, launches TMB SME Credit which tailored to business objectives. TMB SME Credit range of products offers a credit line of up to three times the value of collateral for businesses that are expanding of in need of extra liquidity. At the same time, the Bank unveils a new TV commercial titled “New Standard of SME Credit” reaffirming the position of TMB SME as financial service trendsetter.
Mr. Sayam Prasitsirigul, TMB Chief SME Banking Officer, said “Under the current economic climate, TMB stands ready to meet requirements of SME operators, be it in liquidity, business expansion, or refinancing obligations from other financial institutions, in the forms of business and international trade credits through “TMB SME Credit.” This innovative financial product offers credit line of up to three times the value of collateral, with exceptionally low rate, to ensure smooth running of SME businesses through long-term credit and cash flow, while reducing their financial costs. This is indeed a new benchmark of SME credit that TMB is setting.”
TMB SME offers the following credit services to SME operators covering different sizes of businesses.
? Enterprises with sales of less than 50 million baht per annum can increase liquidity, expand the business or refinance obligations with other financial institutions through long-term loan and OD line of up to 3 times the value of the collateral.
? Enterprises with sales turnover of 50-500 million baht per annum to whom TMB SME is prepared to give credit 3 times the value of their collateral, in the form of long-term loan, OD line and credit line for promissory notes, as well as international trade credit line including buyers’ credit, charging the minimal rate of interest at MOR-1.50%, and waiving money transfer fee.
“In the period prior to this official launch, our SME clients responded extremely well to our services because the credit has been tailor-made to their needs most effectively. This makes us TMB realize the potentials of expanding the service to cover SMEs in the most comprehensive manner. And this is evident in new applicants of TMB SME credit are clients from other banks migrating to us because of our better offer. ” Mr. Siam says, adding that:
“The Bank is launching a new TV commercial called “New Benchmark of SME Credit,” which is 45 seconds long to publicize the service among SME operators, with the key message being TMB SME setting new standard of credit service offering credit of up to three times the value of collateral at exceptionally low interest rate, suitable for the current economic conditions.
The commercial will be broadcast on national TVs starting from 7 October 2009. It captures the constraints faced by clients seeking credit, who usually get less than what their collaterals are worth, or at most 1.5 times of the value. It uses dinosaurs and primitive homo sapiens to demonstrate old-fashioned service, as TMB offers new benchmark of credit options to modern SMEs, of up to three times the value of their collateral which is the optimum choice for clients.
In addition to the TMB SME Credit of up to three times of the collateral, TMB also offers a wide range of credit and services that cater comprehensively to all needs of SME sector. SME operators can call for more information and advice at 49 TMB SME Business Zones nationwide, or call TMB Phone Banking 1558.