TCG to help guarantee 80,000 new SMEs this year

[webfact]

TCG to help guarantee 80,000 new SMEs this year

 

   

BANGKOK(NNT) - In an effort to help SMEs have better access to capital, the Thai Credit Guarantee Corporation (TCG) is this year offering credit guarantees of some 150 billion baht in loans taken out by new SMEs from financial institutions, as well as providing a refinance service for SMEs in trouble.

 

TCG’s President Rak Vorrakitpokatorn announced today the TCG had set a 150 billion baht credit guarantee target to help some 83,500 new SMEs. The figures are based on an extension of the existing SMEs credit guarantee campaign with a 60 billion baht credit limit.

 

The TCG aims to help SMEs facing financial trouble to refinance, offering them a chance to continue their business activities through an extension of the payback deadline, and payment postponement. These services will, for the first time ever, be offered to clients with an overdue payback record.

 

SMEs currently holding credit guarantees in the PGS5 and PGS7 campaigns will have their credit guarantee extended for 5 more years, within the 70 billion baht credit limit. There are currently 5,000 TCG clients in both campaigns waiting for approval of their loans, worth some 12.5 billion baht in total.

 

Since January, the TCG has helped delay the loan payback deadline and refinancing of non-performing loans for 11,400 SMEs, worth 18 billion baht in total. The campaign helps businesses maintain better financial fluidity, by significantly reducing monthly payments, such as from 500,000 baht to 150,000 baht per month.

 

 

-- © Copyright NNT 2020-02-10

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[Cake Monster]

Why is this Country bailing out Business,s that are obviously poor in Management Structure, and any other Business Strategy.

Let them sink out of sight.

This way the better performers in the Business Sector will rise to the top, which will greatly enhance the productivity of the nation.

The ones that fail ? let them work for the real Business people .

[DrTuner]

Yeah baby, chain 'em loans, party like it's 1999. Maibpenrai about paying back.

[Redline]

Zero business sense-it’s always about quantity-zero about quality and performance ????

[PatOngo]

9 hours ago, webfact said:

TCG’s President Rak Vorrakitpokatorn announced today the TCG had set a 150 billion baht credit guarantee target to help some 83,500 new SMEs.

Here's a silly idea, why not allocate some of this money to tourist attraction restoration?????

[Srikcir]

On 2/10/2020 at 11:06 AM, Cake Monster said:

Why is this Country bailing out Business,s that are obviously poor in Management Structure, and any other Business Strategy.

Let them sink out of sight.

This way the better performers in the Business Sector will rise to the top, which will greatly enhance the productivity of the nation.

The ones that fail ? let them work for the real Business people .

The reason may be insidious.

In a free market with an open "playing field" wherein all businesses are "created equal" and independent, SMEs either survive or not on their own. There are no "political agents" to otherwise distort market competition for political loyalty and tangible benefits that follow..

The trend during Prayut's regime has been massive government and (seemingly) pro-military conglomerate support for SME's that might otherwise fail or even not emerge at all. As a consequence, securing capitalization for such SMEs creates an unfair playing field compared to SMEs that can legitimately secure capitalization by their own right. But in politics, the gift of benefits comes with the dearth of obligations.

The Deep State deepens its hold on the grassroots of the nation's economy.