Thailand, like many other countries, has been facing significant challenges due to the pandemic crisis. This is not new for Thailand, which has dealt with previous crises such as the Asian Financial Crisis in 1997 and the H1N1 virus outbreak in 2009.

With my extensive experience working with small and medium enterprises (SMEs) in traditional banks and the Information Technology sector, I understand the unique needs of the SME market in Thailand.

During these challenging times, SMEs are particularly vulnerable, and I am collaborating with the Siam Validus team to leverage technology to help address their financing gaps.

SMEs are essential to the growth of economies, and in Thailand, they contribute significantly to GDP growth and job creation. However, many SMEs struggle with access to capital and financing, despite efforts by the Bank of Thailand to support them.

Traditional collateral-based lending has been challenging for SMEs with limited assets, leading to complex and burdensome loan application processes. Additionally, outdated financial assessment methods do not accurately represent the potential of high-growth SMEs.

To address these challenges, SMEs in Thailand need to diversify their sources of financial support, including exploring digital crowdfunding platforms that use advanced analytics to assess creditworthiness.

How Digital Solutions Can Help Thai SMEs

Digital solutions, such as fintech-driven lending, can play a significant role in supporting SMEs’ financing needs. By partnering with organizations like the OSMEP, SMEs in Thailand can benefit from digitalization initiatives, such as online payment systems and digital marketing.

Platforms like Siam Validus offer innovative crowdfunding opportunities for SMEs, enabling them to access much-needed capital efficiently. Through the use of data analytics and AI, Siam Validus provides growth financing to underserved SMEs through debt crowdfunding.

Empowering Thai SMEs Through Crowdfunding

Crowdfunding provides SMEs with a viable way to raise capital digitally, bypassing traditional barriers to financing. Despite challenges in the Thai crowdfunding landscape, platforms like Siam Validus are overcoming regulatory hurdles and offering accessible financing options to SMEs.

Siam Validus has already disbursed millions of dollars in loans to Thai SMEs and aims to support over US$200 million in financing in the next 24 months. Backed by reputable investors, Siam Validus is committed to providing SMEs with intelligent and efficient financing solutions.

Supporting Thai SMEs Through Financial Innovation

As a key player in the Thai fintech sector, Siam Validus is revolutionizing SME financing by offering accessible and transparent crowdfunding opportunities. By connecting SMEs with investors, Siam Validus is helping Thai businesses thrive and grow during challenging economic times.

In conclusion, my passion lies in breaking down barriers to financing for Thai SMEs through platforms like Siam Validus. By providing innovative and accessible financing solutions, we can empower SMEs to succeed and drive economic growth in Thailand.

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Image Credit: pitinan

This article was first published on March 29, 2022.

The post Why is fintech driven lending a game-changer for Thai SMEs appeared first on e27.