Bangkok: Siam Commercial Bank (SCB) continues to strengthen its financial infrastructure by injecting over 3 billion baht in loans to "Easy Money," a major private pawnshop in Thailand. This aims to enhance its ability to convert assets into capital, reduce reliance on informal lending, and help individuals and small business owners manage their assets for maximum liquidity and access to funding sources.
According to Thai News Agency, Mr. Kris Chantanothok, CEO of Siam Commercial Bank (SCB), stated that the Thai economy still faces vulnerabilities from slowing consumption, high household debt, and the incomplete recovery of small businesses. The main problem is access to safe funding, forcing many people to rely on informal lending, which poses risks to their quality of life and the overall economy. SCB recognizes this issue and aims to help individuals and small businesses access alternative financial institutions instead of informal lending. Therefore, SCB has provided 3 billion baht in financial support under Easy Money Group, a major private pawnshop, to further develop its business and enhance liquidity for small business owners and the general public.
Mr. Sittivich Tangthanakiat, Chairman of the Board of Directors of Tangthanasin Co., Ltd., or Easy Money, stated that Easy Money is a leader in upgrading the pawnshop business into a modern and reliable alternative financial institution using assets as collateral (Asset Backed Financing). With 98 service branches, its main customer base consists of individual borrowers and small business owners seeking access to financial services through asset securitization. The financial support from Siam Commercial Bank reflects their confidence in Easy Money as a source of funding to help individuals and small business owners get started and expand their business and investment opportunities more comprehensively. Furthermore, Easy Money continues to leverage technology to enhance customer service efficiency, including a system for appraising assets based on market prices to ensure transparency and fair valuation for customers, as well as technology for safeguarding customer assets according to the principle of "One day i n, one day out, assets remain intact."