New entrepreneurs can now qualify for loans of up to 500,000 baht within just seven days under a fast-track programme offered by the state-owned SME Development Bank.
Samran Bhuanantanondh, president of the SME Development Bank, said the bank was allocating an initial budget of three billion baht for the lending programme.
New or existing small business owners can apply to borrow funds under the programme ranging from 50,000 to 500,000 baht.
Loans to individuals will be capped at 300,000 baht, while those to juristic persons can run up to 500,000 baht. Loan terms are for three years, with either a personal or corporate guarantee required.
Interest rates on the loan programme are set at 10% annually for general customers and 8% for borrowers who have passed through training programmes run by state agencies such as the Small and Medium Enterprises Promotion Office.
