Bangkok, " Industry" joins with "TCG" and 4 financial institutions. Increase opportunities for SMEs to access funding sources Accelerate notification of results within 7 days. It is expected that "SMEs" will have access to funding sources of not less than 2,000 million, creating economic value of more than 8,000 million, hoping to reduce the rate of borrowing debt outside the system. Ms. Pimpatra Wichaikul, Minister of Industry Chaired and witnessed the signing of the memorandum of understanding on cooperation in supporting small and medium enterprises to access collateral and funding sources between the Department of Industrial Promotion or DeeProm, the Small Business Credit Guarantee Corporation (TCG) and All four financial institutions to jointly develop a mechanism to support SMEs to have the opportunity to receive loans from financial institutions through helping guarantee loans from TCG more efficiently. Ms. Pimpatra revealed that currently the world economy and the Thai economy are changing rapidly and becoming more complex. Both in terms of technological progress The slowdown of the global economic system and geopolitical conflicts in various regions have resulted in SMEs being unable to start or expand their businesses to their full potential. However, the Ministry of Industry Has established policies to promote and develop the Thai industrial sector which is an important cog in the economic system. To drive the country's economy towards sustainability Including promoting small and medium-sized enterprises (SMEs), community enterprises. Entrepreneurs and startups to be strong under various risk situations and all-round challenges. However, the Ministry of Industry Found that one important obstacle to overcoming the problem And that challenge is access to capital that is more difficult than for large businesses. Because there is no collateral Government through the Small Industry Credit Guarantee Corporation A loan guarantee mechanism has been issued. To help SMEs with potential but lacked collateral to receive a credit line sufficient to meet needs In this regard, from past operations it has been found that there are still many SMEs that require a high proportion of the company's assets as collateral. Opportunity costs occur. This causes SMEs that cannot access funding to bear more financial costs than necessary from using the wrong type of loans. 'We have seen this problem. and use it as a problem to find a solution. continuously therefore ordered Department of Industrial Promotion Accelerate the search for an effective guarantee mechanism. To support SMEs with potential but lacks collateral Receive a business credit line that is sufficient to meet your business expansion needs. It is a mechanism for circulating income and spreading economic prosperity to various regions until it can create jobs. Create income for people in the country As a result, businesses can compete nationally and internationally.' Ms. Pimpatra said that with the changing trends in business operations Access to funding can be li mited, so this project hopes to make it easier for SMEs to apply for funding. Initially, it is expected that approximately 1,000 entrepreneurs will apply for the rights, with a minimum support amount of 1,000-2,000 million baht. It will also help SMEs, who currently have hundreds of billions of baht in borrowing outside the system, reduced as well. Mr. Phasakorn Chairat, Director-General of the Department of Industrial Promotion, said that Deeprom responded to the orders of the Minister of Industry. Accelerate the promotion and support of entrepreneurs at all levels. Give them the opportunity to access funding sources. By collaborating with the Small Industry Credit Guarantee Corporation (TCG) to develop a mechanism for accessing funding through the use of effective credit guarantees. Giving entrepreneurs the opportunity to access funding easily and more conveniently by using letters of guarantee instead of securities. In addition, financial counseling is provided through the project "Growing Wings for SMEs" No securities Good and ready to guarantee.' There are 4 financial institution partners. join support In line with the Reshape the Future policy: The world changes, the industry adjusts. Ready for the future Through strategies to adapt and increase access to opportunities (Reshape the accessibility) under the DIPROM Connection policy to expand the cooperation network. Create opportunities and enhance competitiveness for entrepreneurs. For the signing of the Memorandum of Understanding (MOU) this time, it is a collaboration between DeeProm and 5 partner agencies, namely the Small Industry Credit Guarantee Corporation (TCG), Government Savings Bank, Krung Thai Bank Public Company Limited, the Bank. Small and Medium Enterprise Development of Thailand (SME) and the Export-Import Bank of Thailand (EXIM Bank) to support SME entrepreneurs to have access to funding sources. Entrepreneurs can submit matters through DeeProm to request consideration of guarantees and forward them to all 5 financial institutions starti ng February 14, 2024, with DeeProm and TCG jointly considering guarantees and The results of the preliminary consideration can be reported within 7 business days. It is expected that SMEs will have access to funding sources of not less than 2,000 million baht and be able to expand their business start-ups and create growth opportunities worth not less than economic value. 8,000 million baht Mr. Sittikorn Direksuntorn, Director and General Manager The Small Industry Credit Guarantee Corporation (TCG) added that On behalf of the State Specialized Financial Institution under the Ministry of Finance feel very welcome and is confident that this cooperation with TCG by the financial advisory center "TCG FA Center" will help more than 3.2 million SMEs, especially those lacking credit collateral, access to funding sources. By using TCG's credit guarantee mechanism together with 4 partner banks and financial institutions. Under the policy guidelines of the Department of Industrial Promotion, DPROM Connection is link ed to TCG's direction of being a Digital SMEs Gateway with its role as a financial intermediary (Credit Mediator) to enhance access to credit with guarantees and financial counseling. finance Adjusting the business plan and debt resolution for SMEs in the form of debt restructuring by TCG FA Center. TCG has opened a channel for SME entrepreneurs who have applied and passed initial consideration from the Department of Industrial Promotion. You can register online to join the project through the LINE Official Account @tcgfirst. Entrepreneurs who apply within 30 days after the application opens and receive approval for a loan with a guaranteed credit limit, the first 100 applicants will receive benefits waived from the guarantee processing fee. or the cost of issuing a letter of guarantee immediately. Source: Thai News Agency
Sunday, September 08, 2024