Kasikornbank (KBank) has partnered with Horganice to offer smart solutions to assist apartment businesses, aiming to extend Bt500 million in loans to this market.
KBank’s Vice President Surat Leelataviwat said that most of the 18,256 apartment business operators in Thailand are located in the provinces with populated communities and active trade, industrial investment and tourism activities, as well as high-level educational institutes.
Although apartment owners seem like “passive income earner”, they face much difficulties in their business management, such as disorderly data storage, a heap of documents to manage, tedious rental collection, employee frauds, intensified competition and most recently, the new rental law that came into effect on May 1, 2018 that has directly affected the business management of the operators.
Apartment owners using the Horganice application for at least six months are entitled to receive K SME Apartment Credit with loan limit up to Bt30 million for term of not more than 15 years.
Borrowers with approved loan limit up to Bt3 million are entitled to a special zero interest rate for a period of six months.