Bangkok: The SME Bank, in collaboration with the National Housing Authority (NHA), has launched an initiative aimed at supporting vendors at Huai Khwang Fresh Market by facilitating their access to loans.
According to Thai News Agency, this initiative is part of the "TCG Strengthens Community Shops, Creating Opportunities for Capital" program, jointly organized by the Small Industry Credit Guarantee Corporation (TCG) and the NHA. The event, which took place at Huai Khwang Fresh Market in Din Daeng District, saw participation from NHA Director and General Manager Mr. Sitthikorn Direksunthon, as well as other top executives and staff from the NHA and the Government Savings Bank.
The event was designed to promote TCG's products and services, encouraging community vendors who need revolving funds or bank loans but lack collateral or a guarantor to access loans through the NHA's guarantee program. Mr. Sitthikorn highlighted the government's "Quick Big Win" economic recovery policy, which seeks to unlock financial potential for individuals and small entrepreneurs, thereby stimulating the economy.
The SME Bank's primary mission is to facilitate loan access for SMEs through a loan guarantee mechanism. In this initiative, the bank has partnered with the NHA, which aims to improve the quality of life for people nationwide, including a large number of small entrepreneurs. The Huai Khwang Fresh Market, with over 600 small business operators, has been selected as a pilot area for this project. A financial advisory service point has been established to enhance the knowledge and understanding of vendors and nearby community members, preparing them to apply for loans and increasing their access to funding sources.
The SME Bank currently offers the "Smart Win" SME loan guarantee program under the "SME Bank Quick Big Win" initiative, catering to micro-SMEs and self-employed individuals seeking loans of up to 1 million baht. The bank has allocated a total guarantee limit of 10 billion baht, offering loans ranging from 10,000 to 1 million baht per loan, with the guarantee fee waived for the first three years. For years 4-7, fees are determined based on risk level, starting at just 1%, aiming to reduce the financial burden on SMEs.