Three out of the nine registered nano-financing companies have already provided a total of 10 million baht in small loans to 553 borrowers.
Deputy Spokesperson of the Prime Minister’s Office Major General Sansern Kaewkamnerd revealed that loans being offered by these firms must not exceed 100,000 baht per person. The 3 active nano-financing companies are ThaiAce Capital Company, Fast Money Company Limited which is an affiliate of Srisawad Power 1979 PCL, and Muang Thai Leasing Public Company Limited.
Maj-Gen Sansern said a total of 600,000 baht worth of small loans was approved last month, saying that the figure would most definitely rise in the near future, as all of the 9 nano-financing companies already have the necessary system up and running. Major General Sansern added about 20 other companies are waiting for license approval and 70 more have shown interest in the business.
The Deputy Spokesperson stressed that approvals would be given carefully, adding these firms would be alternative sources of informal loans which usually demand high interest rate from small and medium enterprises.