BANGKOK, Thailand – The government is offering three loan options under the AI Nok Krasip program to help merchants and small businesses access formal financing, with credit lines ranging from 50,000 baht to 3 million baht. Sales and transaction data recorded through the Tung Ngern app can supplement traditional financial documents when banks assess loan applications.
Deputy Government Spokesperson Lalida Perisvivatana reported that the GSB QR Maha Heng x Nok Krasip Loan offers up to 50,000 baht without collateral at a fixed interest rate of 0.75% per month. Krungthai Bank’s Sip Muen Loan provides up to 500,000 baht at rates starting from 11% per year, while its SME Size Lek Loan offers up to 3 million baht at rates starting from 3.5% per year, fixed for the first two years. None of the three products carries an application fee.
AI Nok Krasip can use sales figures, income trends, and transaction records from the Tung Ngern app, including data generated through government programs such as Thais Help Thais Plus. This information can help banks assess businesses that may lack salary slips or conventional financial statements, although recorded sales do not guarantee loan approval. Banks will still consider eligibility, repayment ability, and the requirements of each product.
Business owners are advised to borrow based on their actual needs and to carefully compare interest rates, repayment terms, and overall costs. Those lacking sufficient collateral or guarantors may also seek credit guarantees from the Thai Credit Guarantee Corporation, although a guarantee does not automatically secure loan approval. (NNT)
