The credit guarantees will be available until either
"This is the first time we've offered credit guarantees to grass-roots entrepreneurs, who are major drivers of the Thai economy. These include street and wet market vendors as well as microentrepreneurs who have clear operation locations," said president
The TCG was incorporated with the aim of helping SMEs receive more credit or liquidity from financial institutions through its guarantee service.
Mr Vallobh said the TCG limited its guarantees to a maximum loan of
An annual credit guarantee fee will be exempted for the first year, but the charge will be 1.5% the following year.
Microentrepreneurs will receive credit guarantees for loans of up to
There are 36,000 Otop and 72,000 community entrepreneurs.
A total of 71,700 Otop products are available in this country.
The TCG will take responsibility for up to 25% of the loans from Otop and community entrepreneurs should they turn sour and 50% for microentrepreneurs' guaranteed loans.
Typically, the TCG limits its responsibility to 18% of SME non-performing loans.
Senior executive vice-president
A Bank of
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