The Thai Credit Guarantee Corporation (TCG) has expanded its guarantees for the Bank of Thailand’s soft loan scheme by an additional 100 billion baht after the first allocation of 100 billion was exhausted.
TCG acting general manager Wasukarn Visansawatdi said TCG has provided guarantees to micro-businesses, small and medium-sized enterprises (SMEs) and major corporates and is open to requests for the loan guarantee until October 9th, 2023.
She said TCG’s loan guarantees enable micro-SMEs and SMEs to access loans of up to 50 million baht and TCG charges a guarantee fee of 1% of the loan value for the first four years, lower than the normal rate of 1.75% per year. The firm charges corporates a guarantee fee of 1% for the first two years, with a maximum loan guarantee of 150 million baht.
Under the loan scheme, the TCG also provides full compensation to cover the damage to lenders if SME and micro-SME loans become non-performing loans (NPLs). This guarantee encourages banks to provide loans to SMEs. Eligible applicants for the TCG’s loan guarantees under this scheme are individuals or juristic persons with businesses registered in Thailand. (NNT)
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