Funding Societies Officially Joins Thailand’s National Credit Bureau, Enhancing Access to Financing for Thai SMEs

FS Capital, direct lending arm of Funding Societies, one of Southeast Asia’s largest digital financing platforms for SMEs, has officially become a member of the National Credit Bureau (NCB), Thailand. This milestone reflects Funding Societies’ strategic vision to elevate its role from a digital lending provider to a structural financial partner, unlocking greater access to funding for Thai SMEs.

Funding Societies operates across 5 markets in Southeast Asia including Thailand, Singapore, Malaysia, Indonesia and Vietnam. In Thailand, FS Capital specializes in flexible, customised and structured direct lending to SME entrepreneurs. Real-time access to credit information from NCB will enable the company to assess creditworthiness more accurately, further shorten loan approval times, and reduce efforts for borrowers seeking financing. The company will also be able to share credit history data of clients with the bureau, further helping SMEs demonstrate their track record when applying for loans.

Mr. Vikas Jain, Country Head of Funding Societies Thailand, commented, "Becoming an NCB member marks a pivotal step for us, granting access to real-time SME credit data while also sharing the data of the company's customers with the bureau. This ensures that our already automated loan approval processes become even faster and more efficient, ultimately benefiting the SMEs we serve while also being able to contribute to a more data-driven financing ecosystem."

Dr. Luxmon Attapich, Chief Executive Officer of National Credit Bureau Co., Ltd. (NCB), said “NCB is pleased to welcome Funding Societies Thailand as our newest member. We truly appreciate the company’s recognition of the crucial role that credit information plays in enabling accurate lending assessments, as well as its confidence in NCB’s services that support fast, transparent, and responsible digital lending for SMEs. This collaboration will enhance the ability of SMEs to access the financing they need, strengthen their competitiveness and contribute to the sustainable growth of the Thai economy.”

SMEs are a critical driver of Thailand’s economy, accounting for 99.5% of all businesses, over 69% of employment, and more than 35% of GDP*. Supporting SMEs not only fosters business growth but also strengthens the overall agility and competitiveness of the Thai economy in the global market.

Despite their potential, many SMEs face challenges accessing financing. Approximately 80% of SMEs cannot secure loans from mainstream financial institutions due to factors such as insufficient collateral, incomplete documentation, or non-compliant accounts. These barriers create a gap between business needs and access to capital.

Membership in NCB allows Funding Societies to access SME credit data immediately with entrepreneur consent, reducing administrative complexity of applying and getting the report by themselves, increasing transparency, and accelerating the loan approval process. Entrepreneurs can plan their business more effectively, submit timely loan applications, and secure financing that meets their operational needs. At the same time, the data shared by the company to NCB can help other lenders evaluate risk more precisely, reduce non-performing loans, and build confidence in high-potential SMEs.

Efficient access to credit information and loans enables SMEs to invest in innovation, expand operations, and increase employment, benefiting the broader Thai economy. Real-time credit data also meets market demand for fast, transparent, and SME-focused lending processes.

Joining NCB represents a strategic milestone for Funding Societies in supporting Thai SMEs, allowing entrepreneurs to access credit conveniently, quickly, and securely, while reducing documentation and collateral requirements, increasing funding opportunities, and boosting confidence to grow their businesses to full potential. For more information, visit fundingsocieties.co.th

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*https://www.worldbank.org/en/country/thailand/publication/thailand-economic-monitor-february-2025-unleashing-growth-innovation-smes-and-startups?utm_source=chatgpt.com