TKC FastLink Financing Scheme Surpasses 500 Loan Approvals in Three Months
The collaborative financing scheme "TKC FastLink," launched by the TKC Nationwide Association and Japan Finance Corporation on September 1, has seen considerable success in its early months. By December 15, it has surpassed 500 loan approvals, a remarkable achievement for both organizations.
The TKC Nationwide Association, which includes approximately 11,600 members consisting of tax accountants and certified public accountants, provides reliable financial information to financial institutions through its member firms. This has enabled quick financing decisions to be made within five business days, offering unprecedented speed in fund distribution to small and medium enterprises (SMEs) and micro businesses.
The effectiveness of the scheme is largely due to the reputation of the financial statements prepared by TKC members. Leveraging the "TKC Monitoring Information Service (MIS)," which is backed by data from Japan Finance Corporation, the credit risk of businesses utilizing the service is significantly lower than the average. This insight reveals that companies receiving loan referrals from TKC members exhibit a markedly reduced risk of default, indicating a positive trend in their financial health. The association's commitment to supporting monthly financial statement preparations is directly tied to the sustained growth of these companies.
In alignment with its mission to promote solid accounting practices, the TKC Nationwide Association actively works on enhancing the reliability of financial reports through improvements like the "Document Attachment under Article 33-2 of the Public Accountants Act." This involves advocating for the digital disclosure of financial statements through the use of the TKC Monitoring Information Service.
The services provided under the MIS are split into two primary categories:
1. Provision of Financial Statements: This service allows TKC members to submit financial statements and tax returns to financial institutions right after electronic tax filings on behalf of their client companies.
2. Monthly Trial Balance Provision: After completing monthly financial statements, TKC members can send the monthly trial balance data to financial institutions, further enhancing communication and trust between businesses and lenders.
Additionally, as a certified management innovation support organization, TKC members can utilize the "TKC Continuity MAS System" to create early management improvement plans and share data from local benchmarks with financial institutions, promoting informed lending decisions.
The TKC FastLink has been built on trust and reliability, and it is predicted that the number of loans approved through this scheme will continue to increase as more companies become aware of its benefits. Moreover, both the associations have confirmed the possession of patents related to network authentication and methods for providing monthly trial balance data, ensuring security and efficiency in transactions.
For those looking to find a tax accountant or an accounting office affiliated with the TKC Nationwide Association, the "myTaxPro" search site is available for easy access to qualified professionals. This tool enhances the accessibility of quality tax services across Japan, ensuring that financial management is within reach for every business owner. As these initiatives unfold, TKC remains committed to empowering businesses through strong accounting practices, thereby reinforcing the financial landscape of the Japanese economy.
The TKC Nationwide Association, which includes approximately 11,600 members consisting of tax accountants and certified public accountants, provides reliable financial information to financial institutions through its member firms. This has enabled quick financing decisions to be made within five business days, offering unprecedented speed in fund distribution to small and medium enterprises (SMEs) and micro businesses.
The effectiveness of the scheme is largely due to the reputation of the financial statements prepared by TKC members. Leveraging the "TKC Monitoring Information Service (MIS)," which is backed by data from Japan Finance Corporation, the credit risk of businesses utilizing the service is significantly lower than the average. This insight reveals that companies receiving loan referrals from TKC members exhibit a markedly reduced risk of default, indicating a positive trend in their financial health. The association's commitment to supporting monthly financial statement preparations is directly tied to the sustained growth of these companies.
In alignment with its mission to promote solid accounting practices, the TKC Nationwide Association actively works on enhancing the reliability of financial reports through improvements like the "Document Attachment under Article 33-2 of the Public Accountants Act." This involves advocating for the digital disclosure of financial statements through the use of the TKC Monitoring Information Service.
The services provided under the MIS are split into two primary categories:
1. Provision of Financial Statements: This service allows TKC members to submit financial statements and tax returns to financial institutions right after electronic tax filings on behalf of their client companies.
2. Monthly Trial Balance Provision: After completing monthly financial statements, TKC members can send the monthly trial balance data to financial institutions, further enhancing communication and trust between businesses and lenders.
Additionally, as a certified management innovation support organization, TKC members can utilize the "TKC Continuity MAS System" to create early management improvement plans and share data from local benchmarks with financial institutions, promoting informed lending decisions.
The TKC FastLink has been built on trust and reliability, and it is predicted that the number of loans approved through this scheme will continue to increase as more companies become aware of its benefits. Moreover, both the associations have confirmed the possession of patents related to network authentication and methods for providing monthly trial balance data, ensuring security and efficiency in transactions.
For those looking to find a tax accountant or an accounting office affiliated with the TKC Nationwide Association, the "myTaxPro" search site is available for easy access to qualified professionals. This tool enhances the accessibility of quality tax services across Japan, ensuring that financial management is within reach for every business owner. As these initiatives unfold, TKC remains committed to empowering businesses through strong accounting practices, thereby reinforcing the financial landscape of the Japanese economy.
Topics Financial Services & Investing）
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