Bangkok: The Ministry of Labor has initiated a 30 billion baht loan scheme aimed at maintaining employment and supporting businesses across Thailand, in a bid to stimulate the grassroots economy. This initiative involves a collaboration with the Social Security Office and six banks, offering a low-interest rate of 2.63% fixed for three years.
According to Thai News Agency, the Employment Promotion Loan Project, Phase 3 (2025-2026), was launched under the leadership of Mr. Phiphat Ratchakitprakarn, Minister of Labor. The signing ceremony was held at the Vayuphak Grand Ballroom, Centara Life Hotel, and was attended by key figures including Mr. Boonsong Thapchaiyut, Permanent Secretary of the Ministry of Labor, Mrs. Marasri Chairangsi, Secretary-General of the Social Security Office, and representatives from the six participating banks: the Bank for Agriculture and Agricultural Cooperatives, the Export-Import Bank of Thailand, Krungthai Bank, Bangkok Bank, UOB Bank, and Thai Credit Bank.
The project aims to assist businesses in accessing low-interest funding to maintain employment within the social security system and boost economic activity at the grassroots level. The total funding of 30 billion baht is sourced from 20 billion baht from the Social Security Fund and 10 billion baht from the central government budget.
Mr. Pipat highlighted the challenges faced by businesses in retaining workers within the social security system and stressed the importance of providing businesses with relaxed funding conditions to drive sustainable economic growth. He emphasized the Ministry of Labor’s commitment to supporting businesses and Thai workers.
Mrs. Marasri Chairangsi detailed the eligibility criteria for businesses, which include having paid contributions for at least 12 consecutive months and committing to maintain at least 80% employment throughout the contract period. Loan amounts vary based on business size, with a maximum of 50 million baht available for large businesses.
Interest rates for businesses with collateral are fixed at no more than 2.35% per year for the first three years, while those without collateral may face higher rates. Special privileges are available for existing EXIM Bank customers with a good payment history, with rates as low as 2.00% per year. From the fourth year onwards, rates will be determined by each bank.
Businesses can apply for the loans from July 2025 to December 30, 2026, or until the allocated funds are exhausted. Applications require a certificate from the Social Security Office, which can be obtained online before submission to participating banks.
The Social Security Office reported that previous phases of the project supported over 3,400 businesses and preserved more than 200,000 jobs. The third phase aims to extend assistance nationwide, serving as a policy tool to mitigate labor impacts during economic transitions.
Entrepreneurs interested in the loan scheme can contact the Social Security Office or call the 24-hour hotline 1506 for more information. Details are also available on the website www.sso.go.th.