The starting point of Ngern Tidlor 's vehicle title loan business came from the realization of the urgent need for cash among customers who are self-employed, have irregular income, and do not have financial statements or pay slips.
This limits their access to formal sources of capital, especially small business owners who are struggling with cash flow disruptions or lack of liquidity, which led to the need for capital to keep their businesses running smoothly. In the past, there were no financial service providers that could meet their need for quick cash and help them roll life forward.
Previously, their only option was to become ensnared in the informal debt cycle. They had to tolerate inequitable agreements and labor tirelessly to procure funds for settling debts burdened by escalating interest rates surpassing the principal sum.
Recognizing the core issues, Ngern Tidlor prioritizes setting standards for financial services in the vehicle title loan industry to create better opportunities for those in need. This encompasses the establishment of criteria for transparent and fair contracts, using easy-to-understand language, and ensuring speed so that customers can use the money to solve their problems in a timely manner.
The company is also committed to developing new technologies and innovations to provide customers with access to financial products and services that meet their needs and provide convenience, improving their quality of life. Examples include the Tidlor Card and the Ngern Tidlor application. The company also helps customers gain financial literacy and understand how to allocate money for spending, paying off debts, and investing. Ngern Tidlor believes that this is the foundation for having 'strong finances.'’
The following are the powerful stories of individuals who constantly encourage and remind NTLers of the deeper purpose behind our daily work.
Ngern Tidlor, ‘a friend in need’ that helped me survive and have what I have today.
Taweep Paorausmee, 65 years old
Occupation: Construction contractor
Customer at Ngern Tidlor, Ang Sila branch
“The construction business requires Taweep to have cash reserves at all times to buy materials and pay wages to his workers to keep the business running smoothly.
Wages are important. If the money is not paid on time, the workers will lose their motivation and will not want to stay with us. And these days, wages are expensive. For example, a small construction project with 6-7 people still requires about 70,000 baht per month. For larger projects with more people, you need even more money to keep things going.
The first time I knew Ngern Tidlor, I was having financial problems. I had sought assistance from a traditional bank, but they required extensive documentation, such as employment and income contracts. There were also too many restrictions.
Luckily, there was a Ngern Tidlor branch near my house that I drove past every day. So, I thought I would give it a try. When I went in, they were very helpful and friendly. They answered all my questions in a friendly manner.
Ngern Tidlor gave me more money than I had initially expected. The most important thing is that I got the money in a short amount of time. I went in the morning and Ngern Tidlor called me in the afternoon to say that my application was approved. And funds were received before 5 pm. Moreover, the interest rate offered was quite reasonable.”
Today, Taweep asserts that he is starting to a good financial standing which leads to a more comfortable life because he adheres to a prudent money management strategy.
“When you borrow money, you have to use it wisely. Use the funds as capital to grow your business. For me, I will never borrow money for personal use. I will only borrow money for business purposes.
Having been a customer of Ngern Tidlor for six years, I have acquired the means to buy a house and a car as well own land. The progress I've made today is mainly due to having a reliable partner like Ngern Tidlor, who has been there to guide me through tough times and propel me forward.”
Unlike the days of making perpetual payment for high interest loans in the past, life has completely changed for me with Ngern Tidlor’s low interest rates and exceptional service.
Thanawat Wongcharattham, 37 years old
Occupation: Food delivery driver
Customer at Ngern Tidlor, Talat Phlu branch
Previously, Thanawat used to breed and sell beautiful Siamese fighting fish for competitions. However, during the COVID-19 pandemic, the economy was sluggish, so he turned to applying for a security guard position and then became a food delivery rider because he expected to have a better income.
“When I became a full-time rider, my income was around 7,000-8,000 baht per month. It was not as much as I thought it would be. It was barely enough to pay for rent, water and electricity bills, and food. So, I resorted to borrowing money from informal sources, which made things worse because I couldn't pay off the interest.
I saw the advertisement for Ngern Tidlor, so I decided to go and talk to them. I was impressed because the interest rate was low, the staff provided good service, and the information was easy to understand. I felt comfortable receiving the money, and I used it as a working capital to help alleviate my financial burden.
Using Ngern Tidlor's services has met my needs. It gives me hope to be able to pay off my debts and live a more comfortable life.”
Ngern Tidlor…a helping hand when we are about to fall.
Pornchai Sae-oueng, 54 years old
Occupation: Motorcycle taxi driver and grocery store owner
Customer at Ngern Tidlor, Talat Phlu branch
Pornchai used to have a difficult life. He had to rely on food from the temple because he had to use his income to pay off 5 informal debts per day, totaling 1,300 baht. His income from driving a motorcycle taxi was only 700-800 baht per day, and even though he worked from morning to night, he still couldn't earn enough money to pay off his debts.
“If I didn't pay on time, I would be threatened and assaulted. I was very stressed, but I didn't know what to do. I thought I had reached a dead end.
Then I saw an advertisement for Ngern Tidlor on TV. I took my car registration book to apply for a loan. I used part of the money I had received to open a grocery store in my house and the other part to pay off the informal debts that I used to pay at 1,300 baht per day. With Ngern Tidlor, I only had to pay 1,600 baht per month instead. My burden was much lighter.”
After being a customer of Ngern Tidlor for 10 years, Pornchai needed financial assistance again.
“I was always impressed with Ngern Tidlor. Every time I went to pay my installments, the 'Branch Manager' would always tell me that if I needed anything, I could come and consult them.
Last year, my son passed away unexpectedly. I didn't have enough money to arrange the funeral. I thought of Ngern Tidlor, and the 'Branch Manager' helped me apply for a loan quickly. I got the money to arrange the funeral and also got a Tidlor card, which is a revolving cash card. If I get sick or need money urgently, I can use the card to withdraw money from an ATM immediately. I don't have to wait for the branch to open.
For me, Ngern Tidlor is like a hand that pulls me up when I'm about to fall. They help me get up. If I hadn't seen the Ngern Tidlor advertisement and hadn't visited Ngern Tidlor that day, I wouldn't be here today.”
At the same time, our NTLers take pride in being able to assist customers. And this will be the driving force that will guide Ngern Tidlor forward to be better every day, to create opportunities for sustainable growth together with Ngern Tidlor customers.
“We are glad to be a part of helping customers get the money they need and on time. We understand that if customers don't get this money, they will be in a lot of trouble. Their businesses may stumble or they may have to use their savings to pay the bills, which may affect their daily lives.
We understand the difficulties faced by our customers. When they come to us with problems, we want to provide them with the best possible service and support.”
Ngern Tidlor, Ang Sila branch
“When we hear the stories of our customers, we empathize with them. We understand that borrowing money from informal sources or borrowing money from other people and not being able to pay it back is both tiring and stressful. It can be very discouraging. And then they are forced to work hard to finding money to pay off the interest. Therefore, we want to make every work day, a day for passing on opportunities to our customers so that they can live their lives comfortably.”
Ngern Tidlor, Talat Phlu branch
All of this is a reflection of Ngern Tidlor's original intentions. It also showcases the sincerity of all employees who are committed to doing everything they can to help improve the quality of life of customers and people in society, as well as to set service standards for the vehicle title loan industry.