The SME Bank invites claim payers to ‘reduce and eliminate debt’ and solve debt sustainably by joining the ‘SME Bank is ready to help’ measure to help businesses move forward.
The SME Bank invites SME debtors who have been claimed for a letter of guarantee to join the debt restructuring measure “The SME Bank is ready to help” to help debtors reduce principal, reduce interest, reduce financial burdens, help support businesses through the crisis and move forward, and provide debt resolution and business unlocking advice through the SME Financial Advisory Center for free! You can register to join the project from today.
Mr. Sittikorn Direksunthon, Director and General Manager of the Small Industry Credit Guarantee Corporation (TCG), revealed that over the past 33 years, we have provided full assistance to SMEs in all aspects, including loan guarantees that help SMEs who lack collateral to access loans in the system more easily through the Credit Guarantee mechanism. In the case of those holding letters of gua
rantee that have become NPLs and have been unable to restructure their debts with the bank and have been paid claims,
The SME Bank has a measure called ‘SME Bank Ready to Help’ (measures in 4 colors: purple, yellow, green, and blue) which is a debt restructuring measure called ‘pay less, ease the burden’, ‘cut the principal before cutting the interest’ or pay some of the principal and charge 0% interest for 7 years. ‘Debt reduction, quick payment’ is a measure that is flexible according to the debtor’s ability and helps maintain liquidity for SMEs and Micro SMEs during the debt restructuring process with the SME Bank. The SME Bank has started this measure since 2022 and has been successful in implementing the measure to help debtors who guarantee loans that have been claimed this year only, from January to September 25, 2024.
There are 2,712 debtors of SME Bank who have undergone debt restructuring, with a total of 15,842 debtors who have participated in the debt restructuring measure and have been compromi
sed, totaling over 7,219 million baht in debt (since the measure began in April 2022 until August 2024). In particular, in 2022, the graph of the number of debtors who entered the debt restructuring measure jumped, representing a growth rate of over 67%, indicating that NPL debtors who were claimed to SME Bank saw the benefits of the debt restructuring measure, which is a solution and encouragement, clearly extending the life of SMEs who were claimed.
Mr. Sitthikorn said that the success of the debt restructuring measure came from the development of a flexible model that is open and provides opportunities for debtors who have been claimed to adjust themselves to continue breathing. It is a measure that supports debt repayment ability at 3 levels (purple, yellow, green) to help debtors feel lighter and reduce financial costs. The highlight is “cutting the principal before cutting interest” and “0% interest”. Currently, it was found that debtors in the group that has the potential to repay some of the principa
l but wants to be interest-free (green) are as high as 69.4%, followed by debtors in the group that can only pay some (yellow) 19.2% and vulnerable debtors (purple) 7.2%. The clear success of this measure is that it can help debtors in the green group to be able to pay off debts and continue their businesses through joining the “debt relief” measure (blue) with a total of 114 cases and a tendency to increase continuously (the debt relief measure was launched in January 2024 as a measure to help debtors in the green group who have paid off 3 installments in a row and want to pay off debts, with the SME Bank reducing the principal by 15%).
‘Therefore, the SME Bank invites SME entrepreneurs, especially old debtors who have been claimed in the past, to adjust their perspectives and consult with the SME Bank to join the debt restructuring measures. The SME Bank is ready to help. Just come to us today. The SME Bank has a way to help, both debt relief through the Blue Measure and the group of outstanding interest b
y adjusting and waiving interest for debtors (Green Measure) so that they can turn their business around again,’ said Mr. Sitthikorn.
For SME entrepreneurs, debtors of TCG First can request consultation on debt resolution, business operations, etc. through the ‘SME Financial Advisory Center’ for free! No charge. You can inquire about details and join the debt restructuring project through the TCG Call Center at 02-890-9999 or register to join the ‘TCG Ready to Help’ measure at the LINE OA TCG First: @tcgfirst.
Source: Thai News Agency