The Bank of Thailand (BOT) has issued new rules and regulations, giving small and medium enterprises (SMEs) and startups better access to investment capital.

The BOT’s Director for Business Policy Yupin Ruangrit said the new criteria for asset classification allows business operators to put up for collateral a variety of assets, including bank deposits, shares, inventories and intellectual property.

The central bank has also revised the policy for asset valuation to enable financial institutions to follow more flexible procedures of collateral value assessment and to increase the types of appraisers in response to growing demand. The BOT voiced its readiness to support SMEs and startups, saying it had developed the IT system with the Department of Business Development to streamline procedures for business registration and guarantees.

Meanwhile, the Valuers Association of Thailand and Thai Valuers Association have helped the central bank map out the framework for business and intellectual property assessment in preparation for the new credit application system. The scheme is expected to facilitate SMEs and startups in seeking capital and to complement the 2015 Business Security Act, which will take effect on July 2.