Quick business-loan approvals are being offered by the Small Industry Finance Corporation, which promises to make a decision within 72 hours of receiving an application.
The service, called Quick Factoring, was launched this month. Applicants can lodge customers' bills as collateral but the debts must be owed by government agencies, state-owned enterprises and private companies with a healthy financial status or listed on the corporation's register.
Loans range from 500,000 baht to 100 million baht. Borrowers are required to be small or medium-sized enterprises (SMEs) with fixed assets worth no more than 200 million baht and fewer than 200 employees.
Applicants who are overdue in paying their own debts can borrow on condition that their customers are not behind in payment of bills lodged as collateral.
