Thread: Thai Credit Retail Bank offers loans to market vendors, micro SMEs

BANGKOK, 9th October 2018 (NNT) – The Thai Credit Retail Bank is providing market vendors and micro SMEs with a nano-finance loan of up to 200,000 baht each in a bid to help increase their liquidity.

According to Mr Winyou Chaiyawan, Chief Executive Officer of the Thai Credit Retail Bank, about two-thirds of the three million SME operators in Thailand are conventional retailers operating in fresh markets and micro SMEs, such as pharmacies and medical clinics. He said both of these groups normally rely on cash, lack a sound financial management system and have limited access to capital resources. Due to these factors, they often seek assistance from informal lenders and are charged exorbitant interest rates.

In order to assist the two groups, the Thai Credit Retail Bank has devised a nano-finance program for them, with no guarantor or collateral required. Under the program, a small retailer or market vendor will be entitled to a loan of up to 100,000 baht, with 36 percent interest annually, while micro SMEs will receive up to 200,000 baht, with an interest rate of 28 percent.

At present, the Thai Credit Retail Bank has a total of 174,000 loan customers, who took out 45 billion baht combined. Last year, the bank earned a net profit of 551 million baht.



National News Bureau Of Thailand | Thai Credit Retail Bank offers loans to market vendors, micro SMEs

vendors will be charged 36% per yr.interestthats good,my wife gets 2% a yr.interest on savings for a 3yr.term.

The needy are always a great source of income.