Why choose the Thaiger for your SME Loan?
Planning to start or expand your business in Thailand? We understand that you need adequate capital to do so, but getting a loan as a foreigner can be hard to do. That’s why we’re here to help secure the financing needed for your business in several simple steps. Our SME Loans service is designed to work seamlessly with your business every step of the way.
What is an SME loan?
A small and medium enterprise loan or SME loan is the type of loan that caters to the financial needs of small and medium-sized businesses. It offers a single line of credit to satisfy the borrowing needs of SMEs.
You can use it both for long-term purposes and as working capital. After considering your business’ essence, cyclical patterns, cash flow estimates, and overall time criteria, the lender approves this loan.
The Benefits of Taking an SME Loan
Small and medium-sized enterprises are central to economic development, especially in developing economies. For SMEs to expand and have a positive impact, they need access to capital markets in order for the economy to survive.The key features of SME loans are as follows.
The simple repayment options by Post Dated Cheque or ECS are offered by the SME loan, which is very useful.
Lenders give stable tenure, between 12 to 48 months.
Attractive interest rates, as applicable to the borrower’s creditworthiness.
SME loans enable a business to grow and expand, you have all of the necessary resources to advance your business to the next level.
Finally, you earn tax incentives, which exempts a percentage of the earnings to recover the balance of the loan from tax.
Why do my business need SME Loans?
You can’t grow your business if you don’t invest, but how can you invest in your business if you keep your business’s money for operational costs? SME Loan can be the solution. There are many good reasons to get such loans. Below we have listed a few of them.
Positive experience from start to finish, thank you the thaiger, your service has helped me out a lot. Especially now when times are hard.
The staff was extremely helpful throughout the whole process. She made everything easy and made sure I understood all our options thank you for getting back to me.
Excellent service, I would recommend Thethaiger to any small business owner in need of funding.
Not sure whether I will get the loan or not as I have tried multiple time before hand, I’ve got my fingers crossed, hopefully, my request will follow through
I thought getting a SME Loan in Thailand would be a nightmare. Then I canme across the Thiager when doing reseach and they been great so far. Saved me a lot of hassle!
to be honest had quite low expectation but it has been pleasent experienced. I was surprised how effienct the Thaiger has been. Will Definatly use them again!
Types of SME Loans
Capital is the most important element to start a company. Multiple types of SME loans are available for you to choose from. Depending on your business needs, the loan duration, and the loan’s particular terms, the choices differ. Read all the details carefully and choose the one that suits your business needs and requirements.
A business line of credit is a flexible SME loan that lets you borrow up to a certain limit and then pay interest only on the portion of the money you borrow. It works like a credit card; you draw and repay funds as you wish, as long as you don’t exceed the credit limit.
- Works similarly to a credit card.
- Until you tap into the funds, you don’t make payments or get charged interest.
- Best choice if you need to buy inventory, manage cash flow, or pay for an unexpected expense.
A working capital loan is a type of short-term loan. It is generally fast and easy to secure, so you can immediately address any urgent financial needs. You receive the loan all at once in a lump sum. However, the interest rates are comparatively high to other forms of SME loans as it is riskier for the lender. Like personal loans, you, as the business owner, need to have an excellent personal credit history to get working capital loans.
You can use working capital loans to fund your business’ everyday activities. You can use it for short-term capital expenditures, such as rent, wages, debt payments, or to handle sales and cost volatility due to seasonality or other factors in your business.
- Ideal for covering your business’ short-term financial needs, such as capital expenditures.
- Easy to obtain.
- Don’t require an equity transaction.
Accounts receivable financing, also known as receivable factoring, is a type of business load that is used to convert sales on credit terms for immediate cash flow. Depending on the receivable accounts, the AR line helps you to cash in straight away on your future receivables, but the interest rate is unpredictable.
- Faster funding as you don’t have to provide tax statements or a business plan.
- Allows you to cash in on your future receivables immediately.
- Your customer’s financial strength determines the financing.
The Thaiger’s Partners
SME Loans can help you expand your business significantly.
I got an SME loan really fast through the thaiger. It helped my business pool in some money toward the working capital, and all our financial crisis was quickly resolved. I’m grateful for all the help and suggestion that the team gave me.
Top tip: Identify what your business really needs before applying and keep your documents in order.
Why the Thaiger?
SME loans can help your business in many ways. However, making a decision on which type of SME loan can be difficult. On top of that, the requirements for foreigners who want to take a loan can be strict.
The Thaiger can make the entire thing easier. We are committed to providing exceptional service and expert advice to assist you with your financial needs. We can help you select one that perfectly matches your business’ financial needs.
Other Recommended Loans
Let us help you get a happier life and fulfil your needs without stressing your financial condition with the following loan options.
Want to buy your dream home in Thailand? Get a home loan and make your dream come true as soon as possible!
Get that car you’ve been thinking about with the help of our car loans. It’s easy and simple, with straightforward conditions.
A personal loan offers funds that you can use at your discretion, such as for a holiday, funeral, or home renovation.
A motorcycle can help you to get around Thailand faster and easier. If you want to buy one but don’t want to take a significant amount of money out of your savings account, a motorbike loan will help pay for your motorcycle purchase.
Tips to Grow Your Business with SME Loans
Capital is the most crucial element to start a business. The simple truth is that the more money you have for your venture, the more efficient and profitable your company would be. The easiest way to get cash for your business is through a loan. There are different ways you can expand your business using SME loans. Here is how the funds can be used to grow your business.
Expand Your Business
To grow your business, you would need to do a lot of planning and financing. Therefore, if you have a well-defined strategy but lack cash, an SME loan will help you develop your business.
To continue operations, an organization needs operating capital. Often, you come into a down period in the organization for several reasons, and this is where an SME loan would benefit you. You will use the loan to offset running costs to ensure you don’t have to take out your own wallet to do it.
Plan the Right Strategies
The best way to confidently launch a business venture is to build a successful marketing strategy plan, one that is backed up by truth and analysis. This will help you to draw and convince consumers to purchase your product or use your service. The advertisement campaign also builds credibility with financial institutions, telling borrowers that your company has a strong chance of being profitable.
SME loans can fund your business, but what if you need quick access to cash for your personal needs? Let us help you get personal loans.
When you need a fund for large expenses, personal loans may be the best option for you. Interest rates are typically lower than credit cards if you have good credit. Also, a personal loan is a type of unsecured loan. This means that you don’t have to offer collateral if you don’t repay the loan. If you can use it wisely, a personal loan can fill a void in your budget without risking your assets.
Personal loans are instalment loans, meaning if you are approved, you will receive a lump sum of cash that you repay in fixed amounts. Whether you need to borrow money for large purchases, moving costs, debt consolidation, emergency expenses, or other things, our Personal Loans service can help you out.
Frequently Asked Questions About SME Loans
Expansion & growth over a couple of years is the main focus as a businessman for raising funds. Funding is needed to improve the company’s potential with respect to raw materials, infrastructure, extension of operations, marketing & promotion
This loan will provide the funds you need for your business, if you want to acquire real estate, purchase an existing business, pay building costs or receive working capital
-Basic qualifications for SME loans
-Entrepreneur, natural individual or legal entity
-Pass the check for credit
-There is no history of financial damage, no record of bankruptcy in the course of debt restructuring.
Looking forward, we predict that the interest rate in Thailand will be 0.75 in 12 months. According to our econometric models, the Thailand Interest Rate is expected to trend about 1.50 percent in 2022 in the long term.
Operators of small and medium-sized enterprises (SMEs) who are legal entities approved to send loan approval documents to the Department of Revenue and who apply for one of three types of SME credit: long-term credit, large credit line or no collateral.
Lenders would know how long the business has been going. To apply for most online small business loans, you need to be in business for at least one year and at least two years to qualify for most bank loans.
Inquire Now to Receive your SME Loans Online