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Wednesday, March 29, 2023

Latest loan guarantees aimed at SMEs

State-owned Thai Credit Guarantee Corporation (TCG) plans to launch Portfolio Guarantee Scheme 10 (PGS10) later this month, aiming to help small and medium-sized enterprises (SMEs) access loan guarantees on a lower cost basis.

The scheme is meant to provide cover for street vendors up to mid-sized enterprises, said TCG president Sittikorn Direksoonthorn. In terms of value, PGS10 ranges from 10,000 baht up to 40 million baht per borrower, he said.

The cabinet approved the programme late last month for guarantees worth 50 billion baht up to a maximum of 10 years.

The agency expects the value of its loan guarantees to reach 30 billion baht within a few months of the launch, Mr Sittikorn said.

Under the PGS scheme, the government provides financial support to TCG, enabling the agency to charge customers a lower fee.

The PGS10 scheme divides customers into six groups,…

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