Driven by the government effort to promote new entrepreneurs and the continued growth of the economy, small- and medium-sized enterprises (SMEs) are projected to obtain credit lines of about 500 billion baht next year from local commercial banks to expand businesses and establish new ones.
Unprecedented low interest rates would also attract SMEs, which are projected to borrow a total of 400 billion baht this year, according to Chotisak Asapaviriya, president of the Small and Medium Enterprise Development Bank of Thailand (SME Bank).
"Next year will be a golden year for SMEs that begin new businesses or expand their existing operations because lending terms offered by financial institutions will be more lenient," he said.
Several major commercial banks in recent years have turned their focus to SMEs as larger corporate customers turn increasingly to alternative funding sources such as bonds.
