Press release
Mr. Sittikorn Direksuntorn, Director and General Manager of Small Business Credit Guarantee Corporation (TCG)
TCG showcases work in 2023 Debt guarantees exceeded the target of 114 billion baht, helping 99,298 SMEs access loans of 125 billion baht, along with debt resolution for 19,000 customers, totaling 6,942 million baht in debt in 2024, highlighting the strategy “Help..guarantee – help. .modify. Debt Structure – Help..solve debt” aims to guarantee loans of 116 billion baht.
Sitthikorn Direksunthorn Director and General Manager Small Industry Credit Guarantee Corporation (TCG) has revealed the success of TCG operations in 2023, providing credit guarantees. Debt restructuring project, debt resolution, SME Financial Advice Center (FA TCG Centre), providing information to SME entrepreneurs, together with the publication of strategic operational plans for 2024 under the concept “TCG Fast Forward Sustainable Credit Guarantee” To be Credit Intermediary a SME Digital Portal Strategy 3 Help “Help..guarantee, help..restructure debt. Help..resolve debt” Strengthening SMEs towards sustainability
Results of TCG loan guarantee operations in 2023. Approved guarantees totaling 114,025 million baht. along with 1. Government projects (PGS 10 and other projects) 51,249 million baht (45% share), average guarantor per person 590,000 baht 2. Cheap Interest Loan Guarantee Project or the Credit Recovery Decree, Phase 2 Credit limit 43,376 million baht (38% share), average guarantor per person 5.3 million baht. 3. Projects that TCG carries out itself Credit limit 19,400 million baht (17 share), average guarantor per customer 2.55 million baht, accounting for 45% credit guarantee in Bangkok – metropolitan area and 55% in the region, while credit guarantee for small and medium business projects on for sustainability. The proportion has continued to increase significantly from 27% in 2022 to 29% in 2023, including the Micro Entrepreneurs Guarantee Project, Business Start-up Innovation Project, Green SMEs Project, Informal Debt Project and Special Projects. Credit Recovery Act and PGS Project for Vulnerable Groups
A total of 99,298 new SMEs received loans. 80% are small entrepreneurs (Micro SMEs) Maintain employment A total of 855,087 jobs create economic benefits 470,388 million baht Create credit in the system 124,815 million baht (representing 1.10 times the guaranteed amount)
The top 5 insurance business types remaining in 2023 Including 1. Service sector 30% 2. Product manufacturing and other trade sector 10% 3. Agriculture sector 10% 4. Food and drink sector 9% and 5. Consumer products 8%, with the first 3 1. The sector service, 2 • the other goods production and trade sectors, and 3. the agricultural sector, account for up to 50% of the total loan guarantee portfolio.
“The share of loan guarantees in the services sector tends to continue to expand. Meanwhile, the other goods production and trade sectors and the agricultural sector shrank slightly. Consumer products and automotive groups The proportion has increased from 2022, in line with the overall picture of the Thai economy which shows signs of continued recovery from the tourism sector supporting the consumption sector. While the highest guarantor group of SME entrepreneurs are small SMEs in the product manufacturing and other trade sectors, accounting for 33%, followed by the service and consumer products sector.”
The SME debt resolution project was more successful than expected. Numbers to help entrepreneurs solve debt Accumulated from 2017 – 2023, helped 19,000 debtors enter the debt restructuring project, which represents a cumulative restructuring debt of 6,942 million baht, especially during the period 2022 (starting in April) until 2023, which is the year TCG published measures. “TCG is ready to help” measures in 3 colors: purple, yellow, green, “low installments, easy installments” with 0% interest. TCG successfully helped 13,378 debtors to receive debt restructuring, with a total debt of 4,723 million baht. In 2024, TCG . Still moving forward with measures to help debtors intensively.
Mr Sittikorn said For TCG’s strategic plan and direction of operations in 2024 Under the concept “TCG Fast Forward Sustainable Credit Guarantee” TCG’s aim is to raise the level of credit guarantees Connecting new services to reach more SMEs in line with the aims of the SME Digital Portal, setting 3 strategies to help “Help..guarantee, help..restructure debt. Help..resolve debt” Strengthen SMEs and develop organizations towards sustainability as follows:
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1. Set a loan guarantee target of 115,600 million baht. Support SMEs to access credit in the system (implementation of 2 main projects: 1. Guarantee projects developed by TCG such as BI7 and RBP with a credit limit of 75,600 million baht and the low interest loan guarantee project or the Act Credit Recovery. The average interest rate of the first 5 years is not more than 5%, credit limit 40,000 million baht)
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2. Drive the organization towards becoming an SME Credit Intermediary and Digital Portal. Forward, midfielder and defender
Striker Being a complete financial advisor for small and medium businesses (FA TCG Centre), adapting service formats, 11 district offices across the country. Expand collaboration with partners Provide information to help SMEs in finance and business Upgrade to TCG Business School
Midfielder Stepping into the financial ecosystem (Ecosystem), developing the Digital Platform, progressing in Phase 2 towards “SME Digital Portal” Connect the credit guarantee system with the Digital Guarantee Platform and new services from OA LINE @tcgfirst There are currently more than 30,000 users and the development of credit guarantee products on a segment-by-segment basis, targeting small businesses, self-employment, informal debt, juristic persons, sustainable businesses and the environment. Including a CSR project that uses TCG’s expertise to provide information to prisoners. Disabled group Vocational students and vocational training schools in the community
Defender Increasing measures to help debtors Sustainable debt resolution is “Interest-free measures” Extended time for measures in 3 colors (purple, yellow, green) “TCG is ready to help” Low, easy installments to help debtors for another year and“Debt relief measures” Continue “blue measures” Debt relief, 15% principal reduction for TCG debtors, green measures, good installments in 3 consecutive installments, first phase end project trial period, 30 June 2024. “Measures to resolve debt” One year debt suspension for SMEs, code 21, affected by the outbreak of the 2019 coronavirus disease (project implementation period 18 months, starting 1 January 2024 – 30 June 2025) Registration opens on 1 January 2024 up to @tcgfirst Official Account Line and TCG district offices across the country
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