Siam City Bank introduced SCIB-S, a commercial loan product aimed at small businesses and entrepreneurs.
Loans ranging from 300,000 to 10 million baht will be available under the programme with terms of from three to eight years. Working capital or overdraft loans are also available.
Pravit Ongwatana, executive vice-president for retail banking, said the new product was aimed at entrepreneurs requiring quick access to credit facilities.
“You can't analyse a five-million-baht loan the same way as a 500-million-baht loan. Small businesses are looking for rapid execution,” he said.
“For SCIB-S, we're using a personal loan concept, where we use credit scoring to analyse the loans. You might say that this is a loan product that mixes both personal and commercial aspects together.”
