The Small Industry Credit Guarantee Corporation (SICGC) hopes to gain an additional one billion baht in loan guarantee fees this year from a new arrangement with Siam City Bank (SCIB).
Thaweesak Foongkiatcharoen, the acting general manager of the SICGC, said the agency would bear some of the risks from loans extended by SCIB, either additional or new borrowing, by guaranteeing those with insufficient collateral.
The SICGC charges a customer fee of 1.75 per cent per year on the guaranteed amount.
SCIB said that so far this year, it had extended 15bn baht worth of loans to small businesses this year, surpassing the full-year target of 12bn baht set by the government.
Source: Bangkok Post
