EXIM Thailand and TCG have collaboratively rolled out “One SMEs” pre- and post-shipment revolving credit facility with a maximum credit line of 3 million baht per entrepreneur, initial interest rate of 5% per annum, easy application through websites and quick approval with a special interest rate and using only a letter of guarantee from TCG and Personal guarantee. The credit scheme is made available in conjunction with the “EXIM for Little People clinic” which provides financial health check and debt resolution and capital gap fill-up advisory services on a full-fledged basis.
Mr. Rak Vorrakitpokatorn, President of Export-Import Bank of Thailand (EXIM Thailand), and Mr. Sittikorn Direksoonthorn, President of Thai Credit Guarantee Corporation (TCG) jointly kicked off “The S1 Project to Fill Capital Gap under TCG Guarantee” and “EXIM for Little People Clinic” at EXIM Thailand’s Head Office on March 30, 2023. Entrepreneurs who are customers of EXIM Thailand and TCG are invited to receive advice for their export business start-up or expansion. They may seek advice and apply for a new credit facility under EXIM Thailand and TCG’s “One SMEs credit scheme” offering pre- and post-shipment revolving credit facility with a maximum credit line of 3 million baht per entrepreneur and an initial interest rate of merely 5% per annum secured by only a letter of guarantee from TCG and Personal guarantee, and also enjoy the following 2-step special benefits:
Step 1: Interest rate discount of 0.25% per annum throughout the first 3 years, and
Step 2: Free! Issued L/G fee of TCG letter of guarantee.
SMEs may apply for the services on the websites of EXIM Thailand and TCG, and enquire with EXIM Thailand Contact Center Tel. 0 2169 9999 or TCG Call Center Tel. 0 2890 9999.
The collaboration between the two state-owned specialized financial institutions aims to reduce and remove problems and restrictions in business operations of SMEs, particularly small ones and individuals, who are unable to access financial sources due to lack of collateral assets. Therefore, EXIM Thailand and TCG have initiated and implemented “The S1 Project” which synergizes their cooperation in development of financial service innovations under the concept: “Integrate channels, processes and models in credit justification” to facilitate and speed up service access since the first phase launched in the middle of 2022.
In addition, EXIM Thailand has joined hands with TCG in opening the 2nd “EXIM for Little People Clinic” to offer financial health check and comprehensive advisory services, covering business plan realignment, financial management, bad debt resolution and debt restructuring, for vulnerable entrepreneurs, small entrepreneurs, individuals running businesses, and the Bank’s clients faced with business liquidity crunch. The clinic scheme leverages on integration of EXIM Thailand’s expertise on export promotion involving knowledge, business opportunity and capital dimensions with TCG’s F.A. Center to “Fill knowledge gap, Fill opportunity gap, and Fill capital gap” for Thai entrepreneurs so that they would be able to get started their businesses firmly and eventually enter the export supply chains. A large number of entrepreneurs are expected to contact for the advisory services. Since the beginning of 2023, the clinic scheme has recorded more than 670 online and offline advice recipients, being able to resolve debts for 138 recipients, fill capital gap for 236 recipients and fill knowledge gap for 217 recipients, and being in consideration process for 79 recipients.
To uplift support for SMEs to a greater extent and in a larger scale, EXIM Thailand and TCG have expanded their collaboration to Small and Medium Enterprise Development Bank of Thailand (SME D Bank) and Islamic Bank of Thailand (iBank) to develop co-operating mechanism under the S1 Project with a view to building financial innovations and services to drive SMEs’ sustainable growth on the global trade front.