SG Capital Public Company Limited, part of the SINGER group, responds to the Bank of Thailand's refinancing and debt consolidation measures. Introducing the 'SG Capital Welfare Loan' to help reduce debt burdens in the era of inflation. The company is moving forward with an MOU in collaboration with 80 leading organizations in the stock market and reputable companies in Thailand to enhance financial liquidity for employees.

The 'SG Capital Welfare Loan' (Debt Consolidation) stands out by turning heavy repayment burdens into manageable ones, consolidating debts in one place. It covers credit card debts, cash card debts, and unsecured personal loans from all financial institutions and non-bank lenders, with a maximum loan amount of 2,000,000 THB and an interest rate of 15% per annum. Borrowers can choose repayment terms from 12 to 72 months. In 2021, the 'SG Capital Welfare Loan' disbursed over 106 million THB, with a target to increase approvals by 200% in 2022, aiming for a total of 240 million THB.

Ms. Busaba Kulsiritham, Managing Director of SG Capital Public Company Limited, a leading loan service provider under the 'Money-Making Car' brand, which offers hire purchase loans for 'Singer' products and other loans, stated that COVID-19 has impacted the Thai economy and the global economy. Meanwhile, the cost of living continues to rise, resulting in household debt reaching its peak. It is expected that this year, the trend will continue to increase, affecting liquidity and the ability of households to repay debts.

Therefore, reducing unnecessary expenses is crucial for many families who need to manage their finances urgently. This situation has prompted refinancing and debt consolidation measures by the Bank of Thailand (BOT). In response to this policy and aiming to alleviate consumer debt burdens, improve quality of life, and enhance society, SG Capital has developed the 'SG Capital Welfare Loan' (Debt Consolidation) for employees, helping them manage and consolidate debts from various sources in one place, covering debts from credit cards, cash cards, and unsecured personal loans from all financial institutions, including non-bank financial service providers.

The 'SG Capital Welfare Loan' has recently signed an MOU with over 80 organizations across four groups, including both listed companies on the Stock Exchange of Thailand and limited companies that do not meet the criteria. This includes companies listed on the SET 100, companies listed on the MAI, or public limited companies not listed on the stock exchange, as well as reputable and stable limited companies. The aim is to enhance financial liquidity for employees in partner organizations with a salary base starting from 15,000 THB, targeting those who want to clear their debts faster with a maximum loan amount of 2,000,000 THB and a minimum interest rate of 15% per annum, with repayments structured to reduce both principal and interest simultaneously, allowing repayment terms from 12 to 72 months.

So far, the 'SG Capital Welfare Loan' has disbursed over 106 million THB, averaging about 200,000 THB per borrower, with a maximum of 2,000,000 THB per individual. This figure reflects the problems and needs of consumers facing significant financial liquidity issues due to rising costs of housing, transportation, and consumer goods.

In 2022, SG Capital aims to increase its approval limits by 200% compared to the previous year to meet the needs of every household among employees in partner organizations that have signed the MOU with over 80 organizations. The company has prepared a budget for approvals of over 240 million THB, anticipating that this product will help improve the quality of life for workers and their families, enabling them to pay off debts and build better financial stability, while also contributing to societal stability now and in the future.