TCG has opened the decree on loan rehabilitation phase 2 with a credit line of 100,000 million baht, confident to stimulate the economy in the last quarter Adjust the new criteria to help micro-SMEs become more fragile, pay low fees, starting at 1% per year for 4 years, adding liquidity, expanding the credit limit up to 50 million baht per person
Mrs. Wasukan Wisansawat, Acting General Manager Small Industrial Credit Guarantee Corporation (TCG) revealed that TCG is now accepting applications for credit guarantees with financial institutions. participating in the credit guarantee program According to the Emergency Decree to assist and rehabilitate business operators affected by the outbreak of the Coronavirus Disease 2019 B.E. 2021, Phase 2 B.E. 2021, the amount is 100,000 million baht for 3 business groups: 1. . Micro operators (Micro) 2. SMEs entrepreneurs 3. Corporate groups (Corporate)
The highlight of the project is to improve the credit guarantee criteria. To help micro-entrepreneurs and fragile SMEs reduce the cost of fees and increase the opportunity to get more credit lines, including
1. Reduce the guarantee fee immediately from the first year For micro-entrepreneurs and SMEs, fragile, light payments, starting at only 1% per year for the first 4 consecutive years, totaling 13% over a 10-year period.
2. Increase opportunities for micro-entrepreneurs and fragile SMEs to receive a credit line of up to 50 million baht per person
3. Increase confidence for banks to provide loans by TCG paying 100% of the insurance compensation for the Micro group from 90% and the fragile SMEs group from 80%.
For corporate operators, the government has helped alleviate the cost burden. Paying fees of 1% per annum for the first 2 consecutive years, totaling 14% for the duration of 10 years, with a maximum guarantee of 150 million baht per transaction per financial institution. and has a guarantee period of up to 10 years, starting on September 6, 2021, ending on October 9, 2023
Qualifications of entrepreneurs applying for credit guarantees include:
1. Be a natural person or juristic person registered and having an establishment in Thailand
2. Having a business credit limit with financial institutions as of February 28, 2021, not exceeding 500 million baht or no credit limit for business with financial institutions
3. Not an NPL as of December 31, 2019
4. Not a company listed on the stock exchange, except a company listed on the MAI market
5. Not a financial business operator
The credit guarantee approval process consists of 8 steps as follows: 1. Loan applicants contact the bank and submit documents 2. The bank approves the credit 3. The bank submits the documents to the Bank of Thailand for credit approval. 4. The bank sends a request for a credit guarantee to TCG.
5. TCG checks documents for correctness and completeness 6. TCG approves guarantees 7. TCG informs the approval and sends documents for the bank to make an appointment 8. Entrepreneurs get credit.
Entrepreneurs who wish to participate in the project can ask for more information or request a free consultation at the SMEs Financial Advisory Center or TCG FA Center at TCG Call Center 02-890-9999 during business hours, Monday – Friday. Time 8.30-16.30
TCG also reported its operating results. Credit Guarantee Between January 1 and September 12, 2021, TCG has approved loan guarantees. Including all projects with a total budget of over 182,000 million baht and approved more than 162,800 letters of guarantee (LG)
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