The state lends additional loans to help citizens

For anyone who wants to have capital to adjust business liquidity, the latest Ministry of Finance supervises SMEs with an additional amount of 1.14 billion baht to access funding sources thoroughly and sufficiently. The Ministry of Finance revealed the cabinet resolution to review the existing cabinet resolutions and additional measures to aid SMEs in order to resolve the problems of the project implementation. To help SME entrepreneurs have access to comprehensive and adequate funding sources. Total credit limit and credit guarantee amount of 114,100 million baht, divided into 3 groups:

1) General SMEs 1.1) Soft loan Government Savings Bank with a credit line of 20,000 million baht, whereby Government Savings Bank provides credit to financial institutions at a rate of 0.01% per year and financial institutions grant loans to SMEs entrepreneurs with a limit of not more than 20 million baht per person. The interest rate is charged at 2% per year for a period of 2 years for SMEs entrepreneurs in the amount of 10,000 million baht and SMEs entrepreneurs in tourism and related businesses in the amount of 10,000 million baht, whereby Government Savings Bank will lend loans to SMEs entrepreneurs. Direct amount 3,000 million baht

1.2) PGS Soft loan Plus credit guarantee project with a credit limit of 57,000 million baht by the Small Industry Credit Guarantee Corporation (TCG) to guarantee loans for SMEs entrepreneurs who have qualifications in accordance with the Emergency Decree on providing financial assistance to enterprises that Affected by the 2019 2020 coronavirus outbreak (Soft Loan Act), but has not yet received a loan according to the Soft loan Act. 1.75 per year, the term of a guarantee is 8 years, with TCG will start guarantees and collect fees at the beginning of the 3rd year from the date that each SMEs operator receives loans according to the Soft Loan Act.

1.3) PGS Phase 8 credit guarantee project with a credit limit of 10,000 million baht by TCG guarantees loans for SMEs entrepreneurs in the amount not exceeding 20 million per person, including all financial institutions. At a fee rate of 1.75 percent per annum, term of a guarantee of 10 years

2) Travel SMEs 2.1) Thai tourism rehabilitation loans 5,000 million baht by Government Savings Bank lending credit for small entrepreneurs in the tourism and supply chain businesses with a limit of 500,000 baht per person, charged at an interest rate of 3.99 percent per year, loan term 5 Principal repayment year 1 year

2.2) Extra Cash credit of 9,600 million baht by the Bank, Small and Medium Enterprise Development Bank of Thailand (SME), lending for small SMEs in tourism and other businesses, both natural persons and juristic persons. The limit is not more than 3 million baht per person. The interest rate is charged 3% per annum in the first 2 years, the loan term is 5 years.

3.1) Fundamental enhancement loans in the amount of 10,000 million baht provided by the Government Savings Bank for individual entrepreneurs. Regular income earner Self-employed And family members The credit limit is not more than 50,000 baht per person, interest rate 0.35 percent per month, term of loan 3 years, free of principal and interest for 6 months.

3.2) Micro Entrepreneur Credit Guarantee Project Phase 3 with an amount of approximately 2,500 million baht, provided by TCG guarantees loans for small entrepreneurs. The fee is charged 1-2% per annum, term of a guarantee period of 10 years, extending the application period until December 30, 2020.

Thanks to Ratchada Thanadirek, Government Deputy Spokesperson