Phuket: Three state-owned specialized financial institutions have launched the “Bringing State Banks to Help the People” project, offering low-interest loans at 3% per year.

According to Thai News Agency, the initiative is a collaborative effort by the Small and Medium Enterprise Development Bank of Thailand (SME D Bank), the Export-Import Bank of Thailand (EXIM BANK), and the Thai Credit Guarantee Corporation (TCG). The project aims to stimulate the domestic economy and support SME entrepreneurs in Phuket and surrounding areas.

The event took place on August 30th, 2019, from 9:00 AM to 12:30 PM at the DARA THEATRE, Dara Hotel, Phuket Province. Attendees were encouraged to register online to participate in the event.

At the event, SME D Bank offered a “Developing Capital Partners” service with a special interest rate of 3% per year, fixed for the first three years, with a repayment period of up to 10 years. Consultants were available to assist with loan applications, and participants approved for any credit limit received a gift voucher.

EXIM Bank introduced the “EXIM Employment Promotion Loan Phase 3” to enhance liquidity for entrepreneurs. This loan features a three-year fixed interest rate starting at 2% per annum, with a repayment period of three years and a maximum loan amount of 50 million baht.

Additionally, SME Bank and TCG launched two new projects under the “TCG Ready to Guarantee” program, offering a 5 billion baht loan guarantee limit. The program waives guarantee fees for the first three years, with fees as low as 1.5%. It is designed to help small SMEs and exporters access loans more easily, particularly those facing liquidity issues. The program also supports debtors by reducing principal by up to 30% and offering a 0% interest rate, enabling SMEs to reduce debt quickly and resume sustainable business operations.