Cabinet approves 7.5 billion baht in soft loans for SMEs

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BANGKOK, 26 June 2013 The cabinet has approved a 7.5 billion baht budget to be loaned to small and medium sized enterprises (SMEs) at a low interest rate with an aim to help them improve business efficiency. 

Director General of the Department of Industrial Promotion Sophon Pholprasit says the budget is the second batch approved for the SME Bank to be extended further to SME businesses in the form of low-interest loans. The project is aimed at helping SME owners improve their machinery and increase the production capacity. Each enterprise will be given no more than 5 million baht in loan.

The first batch of the budget was approved in April with the same amount of 7.5 billion baht. But the difference is that, each business was given only 2 million baht for use in machinery maintenance and also in cushioning the impact of the government’s 300 baht wage policy which took effect nationwide on January 1st of this year.