Bangkok: The SME Bank has announced a series of measures designed to support small and medium enterprises (SMEs) and debtors affected by the unrest at the Thai-Cambodian border, including the suspension of installment payments for six months.
According to Thai News Agency, Ms. Sasikan Wattanachan, Deputy Government Spokesperson, detailed the government’s initiative through the Small Industry Credit Guarantee Corporation (TCG). The urgent measures aim to assist SMEs, debtors facing claims, and TCG customers impacted by the border unrest. One of the primary actions includes a six-month deferral of guarantee fees and management fees for existing TCG debtors and customers in affected provinces. This deferral extends to SMEs and debtors adhering to a debt restructuring plan, provided they are not in default.
Simultaneously, the SME Bank has introduced two key measures under the PGS11 loan guarantee program, “SME Bank for Sustainable SMEs,” to improve liquidity for impacted businesses. The first measure, the SME Power Trade and Business Loan Guarantee Project, offers a guarantee limit of 3 billion baht, with individual guarantees ranging from 500,000 to 10 million baht. This is intended to ease the financial strain on those affected by the border situation.
The second initiative, the SME Micro Business Loan Guarantee Project, provides a guarantee limit of 2 billion baht, with loan guarantees spanning from 10,000 to 500,000 baht. This project is tailored for Micro SMEs in need of working capital but lacking guarantors and collateral. Both projects feature a notable benefit: a waiver of guarantee fees for the first three years, with subsequent years incurring a fee of only 1.5% annually, and a guarantee duration of up to seven years.
Ms. Sasikarn emphasized that SME entrepreneurs, customers, and debtors in affected areas can seek further information and participate in these measures by visiting their local district offices, contacting the TCG First LINE OA: @tcgfirst, or calling the SME Bank Call Center at 02-890-9999.