Bangkok: Krung Thai Bank, Government Savings Bank, and Thai Credit Guarantee Corporation (TCGC) have introduced a comprehensive support package for the "Whispering Bird Loan" program, aiming to ease the credit access process for merchants seeking business expansion opportunities.
According to Thai News Agency, Mr. Vinit Visetsuwannapoom, Director of the Fiscal Policy Office and spokesperson for the Ministry of Finance, indicated that the Fiscal Policy Office has closely examined the needs and constraints of small and medium-sized enterprises (SMEs). In collaboration with financial institutions, they developed the "AI Whispering Bird Loan" project, integrated into the "Thung Ngern" (Money Bag) application. This service utilizes sales data from government initiatives such as Thai Chuey Thai Plus and Khon La Khrueng Plus, assisting businesses in comparing sales with others in similar areas or sectors. This data-driven approach helps businesses manage inventory efficiently, cut costs, and boost profits, providing a more robust foundation for loan applications with participating financial institutions.
Mr. Payong Srivanich, President and CEO of Krungthai Bank Public Company Limited, announced that Krungthai Bank is poised to assist merchants with the "Sib Muen" loan program. This initiative offers a lump sum loan for small business owners, with installments beginning at 500 baht per month and an interest rate starting at 11% annually, up to a maximum of 500,000 baht. The "SMS Small Loan" is also available for businesses utilizing the AI "Whispering Bird" feature on the "Thung Ngern" app, with a maximum loan limit of 3 million baht, guaranteed by the Thai Credit Guarantee Corporation (TCGC), and an interest rate starting at 3.5% per year for the first two years. Eligible businesses must have been operational for at least one year, with no collateral required.
Mr. Songpol Cheevapanyaroj, Director of the Government Savings Bank, introduced the QR Maha Heng x Nokkrasip loan, providing a loan amount of up to 50,000 baht at an interest rate of 0.75% per month without requiring collateral. Eligibility criteria include being a business owner engaged in the Thai Chuay Thai Plus project, using trade data via the Thung Ngern app, and maintaining a continuous account activity of at least 10,000 baht per month for a minimum of three months.
Mr. Sittikorn Direksuntorn, Director and General Manager of the Thai Credit Guarantee Corporation (TCGC), highlighted that TCGC offers loan guarantee programs to supply capital, create opportunities, and facilitate credit access for SMEs. These initiatives are categorized into the Nano Plus loan guarantee program, targeting small business owners with a project budget of 500 million baht in its first phase, guaranteeing 5,000-50,000 baht per borrower with fees ranging from 1% to 2.5% annually over a four-year period. The Credit Plus loan guarantee program, aimed at Micro and SME businesses, has a project budget of 5,000 million baht, guaranteeing 10,000-100 million baht per borrower, with total fees starting at 2% annually and a guarantee period of 10 years.
Furthermore, the Bank for Agriculture and Agricultural Cooperatives, the Islamic Bank of Thailand, and the Small and Medium Enterprise Development Bank of Thailand have collaboratively designed loan products under the 'AI Whisper Loan' project, addressing the working capital, liquidity, and business expansion requirements of entrepreneurs across various sectors.