SME Bank to lend Bt6 billion during third quarter

BANGKOK, July 12 (TNA) — In an attempt to assist cash-strapped operators of small- and medium-sized enterprises (SMEs), the Thai Industry Ministry will cooperate with the SME Bank to lend “not less than Bt6 billion” to them during the third quarter, said Minister Charnchai Chairungrueng.

Besides providing knowledge to producers of ‘One Tambon One Product’ items to enable them to upgrade their products, Mr. Charnchai said the SME Bank will also ease its regulations in order to help small- and medium-sized businesses have easier access to funding sources.

The bank will inject at least Bt6 billion during the current quarter to SME operators, he said, adding that operators could borrow Bt50,000 – 500,000 without the use of collateral, but use only personal guarantees in asking for loans.

Mr. Charnchai said the SME Bank will for the time being provide loans to tourism business operators as the sector has slowed sharply.

In future, the government is prepared to provide another Bt50 billion to SME operators, said Mr. Charnchai.

He said the ministry and the bank will also cooperate in sponsoring trade fairs introducing their products at universities to become better known and more marketable. (TNA)