The Credit Guarantee Corporation for Small and Medium Enterprises (CGC) is ready to support and provide funding for SME operators in 2023, revitalizing and strengthening SMEs at all levels with the launch of the credit guarantee innovation 'Strong SMEs' (PGS 10) with a budget of 50 billion baht. This program is flexible and comprehensive, offering the lowest guarantee fees and an extended period of free guarantee fees, ensuring that SMEs can recover and generate economic benefits exceeding 200 billion baht while maintaining 700,000 jobs.

Mr. Sitthikorn Direksunthorn, Director and General Manager of the Credit Guarantee Corporation for Small and Medium Enterprises (CGC) stated that following the Cabinet's approval of the PGS 10 credit guarantee project with a budget of 50 billion baht on February 28, 2023, the CGC has expedited the process to accept credit guarantee applications by notifying financial institutions interested in participating in the project to sign a memorandum of understanding. It is expected that services will be available by the end of March 2023.

The 'Strong SMEs' (PGS 10) credit guarantee project, with a budget of 50 billion baht, is an innovative credit guarantee program developed by the CGC, allocating an initial budget of 30 billion baht to enhance SMEs' access to credit. The guarantee products are designed to cover all target groups of SMEs (Segmentation) and consist of six sub-projects as follows:

1. Start Up for recent graduates, freelancers, or new SME operators seeking funding to start a new business. Those who have never received credit from financial institutions can apply for a guarantee of up to 100,000 baht per person across all financial institutions, with a minimum guarantee application of 10,000 baht. The guarantee fee is 3% per year, free for the first 2 years, and the following years will be split equally throughout the guarantee period, with an initial guarantee budget of 1 billion baht.

2. Small Biz for small business operators, vendors, and sellers needing working capital for business operations and liquidity support. The credit guarantee amount per person is up to 200,000 baht across all financial institutions, with a minimum guarantee application of 10,000 baht. The guarantee fee is 1.75% per year, free for the first 2 years, with an initial guarantee budget of 3 billion baht.

3. Smart One for individual operators needing liquidity support to recover post-Covid-19, including small and medium-sized SMEs. The credit guarantee amount per person is up to 40 million baht across all financial institutions, with a minimum guarantee application of 200,000 baht. The guarantee fee is 1.75% per year, free for the first 2 years, with an initial guarantee budget of 10 billion baht.

4. Smart Biz for corporate operators needing to enhance liquidity or expand their business to support growth, including small and medium-sized SMEs. The credit guarantee amount per person is up to 40 million baht across all financial institutions, with a minimum guarantee application of 200,000 baht. The guarantee fee is 1.25% per year, free for the first 3 years, with an initial guarantee budget of 15 billion baht.

5. Smart Green to support SMEs seeking funding for improvements and development towards ESG, adapting to changes for sustainable organizational development and environmental friendliness. The credit guarantee amount per person is up to 40 million baht across all financial institutions, with a minimum guarantee application of 1 million baht. The guarantee fee is 1.5% per year, free for the first 4 years, with an initial guarantee budget of 500 million baht.

6. Smart Plus is a guarantee innovation used in conjunction with projects managed by the CGC to enhance protection for credit guarantors. The credit guarantee amount per person is up to 10 million baht across all financial institutions, with a minimum guarantee application of 1 million baht. The guarantee fee is 1% per year, free for the first 2 years, with an initial guarantee budget of 500 million baht.

The 'Strong SMEs' (PGS 10) project is a two-year continuation program, ending on February 27, 2025, and will be a crucial mechanism for driving the economy, helping SMEs access funding that can generate economic benefits exceeding 200 billion baht and maintain over 700,000 jobs.

SME operators can register for free consultation and health check services through the channel Line TCG First (@tcgfirst)