TCG expands soft loan guarantee allocation by B100bnThai Credit Guarantee Corporation (TCG) expanded its guarantees yesterday for the Bank of Thailand's soft loan scheme by an additional 100 billion baht after the first allocation of 100 billion was exhausted, says acting general manager Wasukarn Visansawatdi. TCG is open to requests for the loan guarantee until Oct 9, 2023. The central bank launched the soft loan scheme worth 250 billion baht to help businesses and individuals survive the impact of the prolonged pandemic. The firm charges corporates a guarantee fee of 1% for the first two years, with a maximum loan guarantee of up to 150 million baht. Under the loan scheme, TCG also provides full compensation to cover the damage to lenders if SME and micro-SME loans become non-performing loans (NPLs).

Source: Bangkok Post September 17, 2021 21:11 UTC