TCG joins forces with 18 financial institutions Injecting soft loan loans with co-guarantees, adding capital to hundreds of thousands of SMEs, hoping to drive the economy
Mr. Arkhom Termpittayapaisith Minister of Finance Presided over the signing ceremony of the Memorandum of Understanding for the Portfolio Guarantee Scheme PGS Phase 10 (PGS 10) “Strong SMEs TCG” by the Small Industry Credit Guarantee Corporation. Joining forces with 18 financial institutions Encouraging SMEs entrepreneurs to access loans in the system, with a credit limit of 50 billion baht, driving the economy, reviving, replenishing capital, confidently helping over 100,000 SMEs to create economic value of over 200,000 million baht, maintaining over 700,000 jobs.
After the Cabinet approved the Bank of Thailand’s Soft Lone Loan Project and suspended debt, the amount of 61,500 million baht when SMEs in tourism need capital. Improving business to support tourists is flowing in large numbers will allow Thai SMEs entrepreneurs to access capital sources between Small Industry Credit Guarantee Corporation (TCG) and 18 financial institutions
Mr. Sittikorn Direksunthorn, Director and General Manager of TCG, said that this cooperation project received attention from 18 Financial institutions participating in the project are: 1. Small and Medium Enterprise Development Bank of Thailand 2. Bank for Agriculture and Agricultural Cooperatives 3. Export-Import Bank of Thailand 4. Government Savings Bank 5. Islamic Bank of Thailand 6. Bangkok Bank Public Company Limited 7. Krung Thai Bank Public Company Limited 8. Bank of Ayudhya Public Company Limited 9. Kasikorn Bank Public Company Limited 10. Kiatnakin Phatra Bank Public Company Limited
11. TMB Thanachart Bank Public Company Limited 12. Tisco Bank Public Company Limited 13. The Thai Credit Retail Bank Public Company Limited 14. The Siam Commercial Bank Public Company Limited 15. United Overseas Bank Public Company Limited 16. Land and Houses Bank Public Company Limited 17. Card X Company Limited 18. Highway Company Limited All 18 financial institutions will jointly push and help SMEs entrepreneurs access to credit for more than 100,000, creating value. economic growth of more than 200,000 million baht and maintaining employment of over 700,000 positions
The Portfolio Guarantee Scheme PGS Phase 10 (PGS 10) project “TCG SMEs strong” has been approved by the cabinet meeting. The project was approved in the amount of 50,000 million baht on February 28, 2023. The project duration was 2 years until February 27, 2025.
The highlight of “Strong SMEs TCG” is the innovative credit guarantee product developed to meet the needs of 6 groups of SMEs, namely: 1) Start-ups for new graduates and independent occupations with a credit limit of not more than 100,000 baht per person. including all financial institutions Guarantee fee 3% per year, free for the first 2 years, next year pay half Throughout the guarantee period 2) Small Biz Working capital for retail traders, merchants, credit limit per person not exceeding 200,000 baht, including all financial institutions. Guarantee fee 1.75% per year, free for the first 2 years
3) Smart One (Smart One) to enhance liquidity Guarantee per person not exceeding 40 million baht, including all financial institutions. Guarantee fee 1.75% per year, free for the first 2 years 4) Smart Biz for small and medium-sized SMEs Credit limit per person not exceeding 40 million baht, including all financial institutions. Guarantee fee 1.25% per year, free for the first 3 years 5) Smart Green (Smart Green) enhancing business potential towards environmentally friendly ESG and BCG. The credit line of guarantee per person does not exceed 40 million baht, including all financial institutions. Guarantee fee 1.5% per year, free for the first 4 years and 6) Smart Plus, guarantee amount per person not exceeding 10 million baht, guarantee fee rate 1% per year, free for the first 2 years.
Source: Thai News Agency
