Land can be used as collateral for loans
Mee Tee Mee Ngern, a Government Savings Bank (GSB) subsidiary, plans to offer its land collateral loan service nationwide in June this year, expanding from the 10 major provinces in which it operates at present, says chief executive Isara Wongrung.
The company extends loans by using land as collateral. During the first three months of the service’s operation — from January to March — Mee Tee Mee Ngern extended a total of 1.04 billion baht in loans at an average of 2.89 million baht per borrower to its target groups of small and medium-sized enterprises and small merchants.
Mr Isara expects 3 billion baht in loans to be extended in the first half of 2023.
The company is a joint venture between GSB, Dhipaya Group Holdings and Bangchak Corporation. It was established with registered capital of 1…
