The Thai Credit Guarantee Corporation (TCG) has again activated assistance for entrepreneurs by offering payment deferrals until the end of the year, after helping guarantee loans for Small and Medium Enterprises (SMEs) to allow them to access funding during the past seven months, resulting in the value of approved credit guarantees hitting a record high of more than 140 billion baht.
Mrs. Wasukan Wisansawat, Acting General Manager of TCG, has disclosed the performance of TCG credit guarantees in the past seven months. From January to July 31, the accumulated credit guarantee amount approved by the TCG hit a record high of 144.62 billion baht. The rehabilitation loan guarantee project has approved a maximum credit guarantee amount of 68.84 billion baht and the Micro 4 Loan Guarantee Program for SME entrepreneurs has approved 87,830 letters of guarantee.
To help SME entrepreneurs in the second half of the year, the TCG has accelerated implementation of debt moratorium measures for “customers” and “TCG debtors” until December 31, 2021.
They consist of fee payment suspension measures in August and September, reducing the installment payments for debtors who have reached a compromise with the TCG to 20 percent or a minimum payment of 500 baht per month for up to six months, and a debt moratorium measure for debtors with no more than three overdue payments who run a restaurant business, a tour business or a hotel business, as well as business groups that have to close according to government edict. The TCG will suspend due principal and interest payments for a period of six months but not beyond December 2021. Those interested can submit an application form until October 31, and contact the Call Center 02-890-9999 from Monday to Friday, 8.30 a.m. to 4.30 p.m.