Thai govt offers loans to people working at home

[webfact]

Govt offers loans to people working at home

By The Nation

 

DOE director-general Waranon Pitiwan

 

BANGKOK: -- People earning a living at home by reprocessing materials into saleable products can get low-interest loans from the Department of Employment (DOE).

The department is offering loans of up to Bt50,000 for individuals, to be repaid within two years, and up to Bt200,000 for two or more people, to be repaid within four years, DOE director-general Waranon Pitiwan said on Wednesday.

 

The offer is in response to the government’s strategy to improve the lives of “off-system” workers and boost employment, income and access to funds.

 

Waranon said the DOE had established a loan fund with 3-per-cent-per-year interest for people who work at home so they could buy materials and tools or expand production. 

 

To qualify, individuals must register their business with the DOE, showing evidence of output and payment receipts, and have working capital of at least Bt5,000. 

 

Groups applying (two or more people) would need at least Bt10,000 in working capital. 

 

People interested in applying can call the DOE hotline, 1694.

 

Waranon said 641 work-at-home groups representing 5,462 people have registered with the DOE since 2005. 

 

The department has approved low-interest loans totalling Bt31 million to 340 groups, he said, helping them collectively generate income estimated at Bt119 million a year.

 

Source: http://www.nationmultimedia.com/detail/national/30323961

 

-- © Copyright The Nation 2017-08-16

[RichardColeman]

Well, that's something new to add to the bad loan situation currently.

[zzaa09]

49 minutes ago, RichardColeman said:

Well, that's something new to add to the bad loan situation currently.

...and certainly win-win for the false financial/banking community.

[greenchair]

Loans, loans, loans. 

Do they understand it needs to be paid back? 

[coulson]

Well, that's something new to add to the bad loan situation currently.

Loans, loans, loans. 
Do they understand it needs to be paid back? 

...and certainly win-win for the false financial/banking community.

It's a green initiative in a Country with one of the most dire recycling attitudes in the world.

Most folks up North/East have the means and the know how to put their hands/ wares to good use, encouraging that isn't a bad idea.

As money is the prime motivating factor, it could actually prove to be a successful domestic endeavour, provided the qualifying criteria is comprehensive and keeps the money grabbers out.

[StayinThailand2much]

2 hours ago, RichardColeman said:

Well, that's something new to add to the bad loan situation currently.

And why do they want to 'boost employment'?

 

Aren't all Thais happily employed, with the unemployment rate constantly at around 1%?

[Happyman58]

As i said Thais borrow money dont work More bad debt hooray

[tryasimight]

Better to give a hand up than a hand out.

[Rc2702]

My Mrs asked me if she qualifies doing the housework. I said no but maybe if you do the washing too you might lol

[Jonah Tenner]

6 hours ago, greenchair said:

Loans, loans, loans. 

Do they understand it needs to be paid back? 

No.

Hope this helps. 

[maoro2013]

10 hours ago, StayinThailand2much said:

And why do they want to 'boost employment'?

 

Aren't all Thais happily employed, with the unemployment rate constantly at around 1%?

How would anybody know what the unemployment rate was? Where I live most people work on farms and there is no way they're reporting anything to anyone, every transaction is cash.