The Small and Medium Enterprise Development Bank of Thailand (SME BANK) has teamed up with Thai Airways International Public Company Limited (THAI) to give small- and medium- sized enterprises (SMEs) that do business with the national-flag carrier an easy access to a factoring support program.
The THAI's President, Kanok Abhiradee, and the SME Bank's President, Chotisak Arsobviriya, yesterday signed a memorandum of cooperation in factoring loans to provide the SMEs with an easy access to the financial support.
Around 5 bn baht has been set aside to finance the program, with special interest rates and a special functional unit established to provide services.
With the cooperation, Mr. Kanok said, the SMEs or trading partners, which had distributed goods and services to THAI, would receive bill payment faster than originally agreed in the contract so that they could use money to expand their businesses.
