Nonthaburi, Department of Business Development organized 'Business Collateral Assets Expo' provides knowledge about collateral assets. Ready to attract financial institutions Come give complete advice. for SME entrepreneurs Provide easier access to funding sources There is another channel under 'Business Collateral Law 2015' that allows the use of Assets that have economic value, such as intellectual property or perennial trees Can be used as collateral for applying for a loan Mr. Naphinthorn Srisanpang, Deputy Minister of Commerce, said: Department of Business Development organizes 'Business Collateral Assets Expo' provides knowledge about collateral assets. Ready to bring in financial institutions to provide comprehensive advice. which was highlighted within the event There are financial institutions. Come give advice and provide business loans with special interest rates, including Krung Thai Bank. Bangkok Bank Bank of Ayudhya Thai Credit Bank Small Business Credit Guarantee Corporation (TCG), Bank for A griculture and Agricultural Cooperatives (BAAC), Small and Medium Enterprise Development Bank of Thailand (SME D Bank), Government Savings Bank, Islamic Bank of Thailand. and the Export-Import Bank of Thailand (EXIM Bank) as well as the Thai Independent Appraisers Association. Come join us in providing appraisal services for assets used as collateral for loan applications. This also includes a booth giving knowledge about collateral assets. According to the Business Collateral Act 2015, such as the Department of Intellectual Property Will recommend collateral related to trademarks, copyrights, and patents. The Marine Department recommends movable property such as "boats." The Department of Industrial Works recommends using "machinery" as collateral. The Department of Land Transport recommends using a "car" as collateral. Including providing knowledge related to collateral assets in the category of "perennial trees" from the Forestry Department, Department of Agricultural Extension. Office of Bio-Based Econom ic Development (Public Organization) and BAAC, including providing advice and guidance on price evaluations. and business matching negotiations In addition, the event also saw the signing of a memorandum of understanding (MOU) between the Department of Business Development. Department of Intellectual Property, Marine Department, Department of Industrial Works and the Department of Land Transport To link business collateral contract registration information electronically (e-Secured), facilitating loan applications more easily. and reduce travel And there are OTOP products for sale - and food truck distributors. Help create income for SMEs and expand the customer base. However, urgent policies to reduce expenses, increase income, expand opportunities, emphasize strengthening SME entrepreneurs, with the goal of pushing to increase the share of Thailand's SME GDP from 35.2% to 40% by 2027. The important thing is capital, which the law business collateral Can bring assets other than real estate and movable prop erty can be used as the basis for applying for a loan. without having to hand over the property as well so that the business sector can use it to benefit It is expected that the event will be held between 27-28 March 2024 in the multi-purpose area, 3rd floor, and welfare market. Ministry of Commerce There will be more than 1,000 attendees, with over 1.8 million baht worth of product purchases at the event. As for the Business Collateral Act 2015, which has been in use for 9 years, there are entrepreneurs More than 820,000 people have applied for registration of business collateral contracts, totaling over 18.6 trillion baht in loans, considered a very high amount of money. There are 6 types of assets that can be used as collateral: (1) businesses (2) claims such as leasehold rights, trade receivables (3) movable assets used in business operations such as inventory and raw materials (4) real estate. Only in cases where the collateral provider directly engages in real estate business (5) intellectual property such as copyrights, trademarks, and (6) other assets as specified in ministerial regulations, including perennial trees. Source: Thai News Agency