Thai SME Start up - Don't Believe the Commercials

[geronimo]

Thought I'd share this.

 

My 23 year old son started his own business 9 months ago. Since day one, he has had a minimum monthly revenue of 100k+, add to that 6 months prior to business opening, a personal monthly income of 50k, so that is 1 year and 3 months of solid banking history. He has a top notch business plan and no bank will lend him 200k! The banks say if he was an employee, they would lend him up to 5 times his salary. All the BS the banks put out on TV about SME start ups is a joke, as they will not entertain any company that has not been running for one year. Even GSB, who say they are ready to help if you have a good business idea say the same. So much for Prayuth's pledge to help small businesses.

 

He banks with SCB and when he first applied for a business loan, his company was running for only 6 months, so they told him to reapply after he has 8 months banking history, which he did. They then said, "Sorry, 8 months is not enough, come back when you have 12 months behind you"  <deleted>!!!!

Edited September 27, 2018 by geronimo