New Small Business Credit Guarantee Corporation

New business enterprises that are having problems raising capital now will be given the opportunity to be granted Thai Government assistance.

During the meeting of the Pattaya Business & Tourism Association (PBTA) held at Pattaya’s Green Park Hotel, government officials from the Department of Finance in Bangkok were on hand to outline the Thai government’s new initiative. , Khun Chalermchai Paiboonsiri,Managing
Director of the Chonburi region spoke to give a very detailed outline of how this financial assistance scheme for new businesses will be implemented.

For example, in the past a new business owner could probably raise 1.5 million baht from traditional lending institutions by using their 2.5 million baht house as financial collateral for the loan. However, if more finance was required, there were no further options available to them if they had no more assets. Now with the formation of the Small Business Credit Guarantee Corporation (SBCG), government assistance will be available to many more business enterprises.

The business owner has to provide evidence of the financial viability of their enterprise, with the submission of a proper business plan, complete with financial estimates. If the SBCG approves the submission then the funds needed will be available from low interest sources on an easy repayment schedule.