The Thai Credit Guarantee Corporation (TCG) recorded a low number of requests for its soft loan guarantee, totalling only 6.5 billion baht out of its earmarked 100 billion.
FTI jittery over third wave s impact on SMEs
published : 13 May 2021 at 04:00
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The Federation of Thai Industries (FTI) has raised concerns over the impact of the third Covid-19 outbreak on small and medium-sized enterprises (SMEs) despite the state s attempts to help them gain better access to soft loans through a scheme under the Bank of Thailand.
Many SMEs, especially those working in tourism, restaurants and manufacturing sectors, still found it difficult to obtain loans from commercial banks as the third wave of Covid-19 dealt a further blow to their businesses, said FTI vice-chairman Kriengkrai Thiennukul.
Last year, the central bank launched a relief measure to extend 500 billion baht in soft loans at 0.01% interest to financial institutions for two years.
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The Tourism Council of Thailand (TCT) is calling for a direct financial support package geared towards the tourism sector to save 2-2.5 million jobs as the third wave shows no signs of abating.
Chamnan Srisawat, president of the TCT, said council members want more relaxation on soft loans and is asking the Thai Credit Guarantee Corporation to help because most operators do not have land or assets to use as collateral.
The monthly salary co-payment scheme is another urgent financial aid that could prevent mass layoffs.
If the government fails to take this proposal into consideration, the hospitality sector will risk losing skilled workers and competitiveness in the global arena when international tourism resumes.
Bankers seek easing of soft loan regulations
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published : 13 Mar 2021 at 04:44
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The Thai Bankers Association (TBA) has asked for an easing of the government s amendment of the soft loan decree, which was aimed at facilitating better access to funding for small and medium-sized enterprises (SMEs).
The TBA submitted its proposal regarding the soft loan decree amendment and the asset warehousing model to the Bank of Thailand, which is working with the Finance Ministry to determine additional financial assistance measures for struggling SMEs and a tourism sector reeling from the pandemic, said Piti Tantakasem, chief executive at TMB-Thanachart Bank, a member of the TBA.