ANNOUNCEMENT 02 Aug 2021

In August 2021, the Thai SME Development Bank launched three new loan packages, namely SMEs D Top Up Capital, Happy SMEs, and SMEs Smile, with a total credit line of THB 15 billion (USD 454.9 million) for SMEs.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

The SME Development Bank News Release on 2 August 2021: https://www.smebank.co.th/en/news/detail/1368

Inception date: 02 Aug 2021 | Removal date: open ended

State loan

On 2 August 2021, the Thai SME Development Bank launched three new loan packages, namely SMEs D Top Up Capital, Happy SMEs, and SMEs Smile, with a total credit line of THB 15 billion (USD 454.9 million). Each SME was eligible to receive a loan of up to THB 15 million (USD 454,962) with the following details: 

  • for SMEs D Top Up Capital loan, the limit was THB 5 million (USD 151,654) with an interest rate of 4% per year;
  • for Happy SMEs loan, the limit was THB 5 million (USD 151,654) with an interest rate of 5% per year; and
  • for SMEs Smile loan, the limit was THB 5 million (USD 151,654) with an interest rate of 5.5% per year.

The objective was to help SMEs facing the impact of the COVID-19 pandemic. 

The SME Development Bank is the government-owned bank mandated to provide credits to SMEs as they may have no access to lending from commercial banks. The SME Development Bank has also been mandated by the Thai Ministry of Industry to manage SME rescue funds, under which the bank takes on no credit exposure but receives a management fee for loan underwriting, debt collection, and troubled debt restructuring.

* THB to USD conversion as of 2 August 2021 - THB 32.83/USD

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