Charoen Pokphand Foods (CPF) has partnered with Bangkok Bank (BBL) to launch the CPF x BBL Supplier Liquidity Scheme. The move is intended to help CPF’s suppliers strengthen their financial liquidity with working capital.
CPF CEO Prasit Boondoungprasert said the food and agribusiness group he purchases raw materials and goods from more than 10,000 suppliers. These suppliers play a key role in enabling CPF to produce and supply high-quality, safe food to consumers, he said.
Prasit praised BBL for collaborating on his CPF x BBL supplier liquidity scheme. BBL executive director Charanpoor Jyothikastira said his bank’s staff were ready for consultation while a digital platform was put in place to ensure convenient and speedy service.
He believes the program will invigorate entrepreneurs, which he believes is one of the bank’s key policies.
BBL executive his vice president Pipat Assamongkol explained that his program includes special interest rates and large loans. Faster approval process and no collateral required.
A customer can easily withdraw and repay loans while the online system allows him to check outstanding loans 24/7.
CPF senior vice president Thidarat Decayonbuncha added that the supplier liquidity program follows the Faster Payment program that CPF has been operating since October 2020.
Thidarat said SMEs whose repayment period is he 30 days are highly liquid and have not experienced any business disruption.
She said small businesses are excited about the program. Because it strengthens their finances and allows them to operate their businesses stably in an uncertain economy.
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