Corporate Secretarial · Scenario S.11
Credit Facility & Loan Application Documentation for Your Thai Limited Company
Banks in Thailand will not process a company credit facility application without a correctly drafted board resolution, a current company affidavit, and — in many cases — a Power of Attorney. An incomplete or incorrectly worded submission is returned, the application stalls, and the facility timeline slips. UnionSPACE reviews the bank's specific requirements, drafts the resolutions to the standard Thai commercial banks expect, and assembles the complete submission pack — so the corporate documentation is never the reason the application is delayed.
Why Corporate Documentation Is the Most Common Cause of Credit Facility Delays in Thailand
The bank's credit assessment is typically the longest part of a facility application — but it cannot begin until the corporate documentation pack is accepted as complete. A board resolution that does not name the authorised signatories precisely as they appear on the affidavit, an affidavit issued more than three months ago, or a Power of Attorney that does not conform to the bank's prescribed form will each cause the submission to be returned. The clock stops. The commercial opportunity waits.
Different banks in Thailand have different documentation requirements — the major Thai commercial banks, foreign bank branches, and development finance institutions each operate distinct internal standards. A resolution drafted for one institution may not satisfy another. UnionSPACE reviews the specific requirements of the lending institution before preparing any document, ensuring the pack is submitted once, correctly.
The full documentation pack — board resolution, Power of Attorney (where required), and complete submission set — is ready within 5–10 working days from receipt of the required information. The bank's credit process is separate and outside scope, but it cannot run until the documentation is accepted.
What Is Included in the Credit Facility Documentation Package?
Everything the bank requires from the company side — prepared to submission standard
Standard Package
Credit Facility DocumentationFixed fee Contact Us |
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| Bank requirements review (facility type and institution-specific standards) | |
| Company affidavit currency check (3-month validity) | |
| Signatory verification against current affidavit | |
| Board resolution drafting — facility approval and authorised signatories | |
| Shareholder resolution drafting (where required by Articles or bank) | |
| Power of Attorney preparation (where required) | |
| Director and signatory ID document coordination | |
| Complete bank submission pack compilation — digital delivery | |
| Bank revision support (if submission is queried) | |
| Updated DBD affidavit (if current affidavit has expired — at cost) | At cost |
Prices are fixed and transparent. Shown in Thai Baht (THB) and exclude VAT. If the company affidavit requires renewal before submission, DBD fees are charged at cost.
Three Documentation Issues That Delay Thai Company Loan Applications
We check each of these before a single document is prepared
Affidavit Currency
Most Thai commercial banks will not accept a company affidavit issued more than three months before the application date. An affidavit that was current when the facility was first discussed may be expired by the time the pack is submitted. We check the issue date at the outset and arrange a fresh copy if required — before preparation begins, not after the bank rejects the submission.
Resolution Wording
A board resolution that does not precisely name the authorised signatories as they appear on the affidavit, or that omits the facility amount, facility type, or lending institution, will be returned by the bank's legal department. Resolution wording that is acceptable for internal corporate purposes is frequently insufficient for Thai bank submission. We draft to the standard the bank actually requires, not to a generic template.
Signatory Authority
If the person executing the bank documents is not the authorised signatory named on the affidavit — because the signatory is overseas, because signing authority has changed since the affidavit was issued, or because the bank requires a specific representative — a Power of Attorney is required. We identify this issue before submission and prepare the POA to the bank's prescribed form, not as an afterthought once the pack is already queried.
From facility review to completed submission pack — what happens at each stage
How We Prepare a Credit Facility Documentation Pack in Thailand
Facility & Bank Requirements Review
We begin by reviewing the specific documentation requirements of the lending institution — facility type, required resolution content, affidavit currency rules, Power of Attorney requirements, and any institution-specific forms or prescribed wording. Requirements vary materially between Thai commercial banks, foreign bank branches, and development finance institutions. A pack prepared to one bank's standard may not satisfy another.
We also check whether a board resolution alone is sufficient, or whether the facility structure — size, security, or terms — requires a shareholder resolution under the company's Articles of Association. This determination is made before any document is drafted, not discovered when the bank queries the submission.
Information & Document Verification
We collect and verify the company affidavit (checking issue date against the bank's currency requirement), the Bor Or Jor 5, the latest financial statements, and identification documents for all authorised signatories. We confirm that the signing authority shown on the affidavit matches the person who will execute the bank documents — and if there is a mismatch, we identify the correct mechanism to bridge it before the pack is compiled.
If the affidavit has expired or the current signing authority does not match the intended signatory, we advise on the correct resolution — whether that is obtaining a fresh affidavit, updating the signing authority, or preparing a Power of Attorney — before any document is sent for execution.
Board Resolution & Power of Attorney Drafting
We draft the board resolution in the precise form required by the lending institution — naming the facility, the maximum approved amount, the authorised signatories, and the signing conditions. Where a shareholder resolution is also required, we prepare both. Where a Power of Attorney is needed, we prepare it to the bank's prescribed form and coordinate execution by the relevant director or signatory.
Draft documents are sent for your review before finalisation. We do not send documents for signature until you have confirmed the content — because a signed resolution that contains an error must be re-executed, adding delay at the stage when speed matters most.
Submission Pack Compilation & Delivery
We compile the complete corporate documentation pack — signed resolutions, Power of Attorney (where applicable), certified company affidavit, Bor Or Jor 5, and signatory ID documents — into a single organised submission set delivered digitally. If the bank subsequently queries any element of the corporate documentation, we review and respond without additional charge within the scope of the engagement.
The submission pack covers the corporate secretarial side of the application. The bank's credit assessment — creditworthiness review, security valuation, and facility approval — is a separate process entirely outside our scope. Our objective is to ensure the corporate documentation is never the cause of the delay.
- Drafting and signing coordination: 2–5 working days from receipt of required information.
- Full documentation pack delivery: 5–10 working days total.
Frequently Asked Questions — Credit Facility Documentation for Thai Companies
Answers to the questions we are asked most often
Thai banks typically require: a current company affidavit (issued within the past three months); the company's Bor Or Jor 5; a board resolution authorising the facility and naming the authorised signatories; certified identification documents for all signatories; the company's latest financial statements; and, where applicable, a Power of Attorney. The precise requirements vary by bank and facility type — UnionSPACE reviews the specific requirements of the lending institution before preparing any document.
In most cases, a board resolution is sufficient for facilities within the company's ordinary course of business. Where the facility involves the pledge of significant assets, creates obligations that exceed the authority delegated to the board under the Articles, or is specifically required by the bank to be shareholder-approved, a shareholder resolution is also required. We review the facility structure and the company's Articles before determining which resolutions are needed — not after the pack has already been submitted and queried.
Most Thai commercial banks require the company affidavit to have been issued within the past three months. An affidavit older than this will be rejected and a new one must be obtained from the DBD before the application can proceed. We check the issue date of your affidavit at the outset — if it is approaching the three-month threshold or has already expired, we arrange an updated copy before the submission pack is compiled.
A Power of Attorney is required when the person executing bank documents on behalf of the company is not the authorised signatory named on the current company affidavit — for example, where the named signatory is overseas, where signing authority has changed since the affidavit was last updated, or where the bank requires a specific representative to be authorised for the transaction. We prepare the POA to the bank's required form and coordinate execution with the relevant director.
Yes. If the bank queries any element of the corporate documentation pack after submission, we review the bank's comments and prepare the required revisions within the scope of the engagement — at no additional charge for documentation queries arising from the original pack. Where the bank's query reveals a fundamental change to the facility structure or a new requirement not identified at the outset, we advise on the most efficient path to resolution.
No. Our scope is the corporate secretarial documentation side of the application — the board resolutions, Power of Attorney, and submission pack that the bank requires from the company before it will process the application. The bank's credit assessment, financial analysis, security valuation, and facility approval are entirely separate processes conducted by the lending institution. Our objective is to ensure that corporate documentation is never the reason the bank's process is held up.
Related Corporate Secretarial Services
Change Director Signing Authority
Update who can sign on behalf of the company — board resolution and updated affidavit. THB 9,000
Appoint a New Director
Resolutions, Bor Or Jor 5 DBD filing, and updated affidavit. THB 9,000
Updated Company Affidavit
Fresh DBD affidavit issued within the past three months — required by most Thai banks. Contact Us
Change of Shareholder
Share transfer, updated register, and company affidavit. From THB 8,000
Accounting & Tax Reporting
Monthly compliance — VAT, withholding tax, and financial statements. From THB 8,500/month
Work Permit Application
For foreign directors who also require a Thai Work Permit. From THB 38,000
Documentation Ready in 5–10 Working Days
The Bank Cannot Process Your Application — Until the Corporate Documentation Is Accepted
An incomplete resolution, an expired affidavit, or a missing Power of Attorney returns the pack to you and stops the bank's process. The corporate documentation must be correct on first submission. We ensure it is.
One submission. No revisions. No delays on the documentation side.
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