Exim Bank offers loans to ease liquidity problems of export-oriented startups
The Export–Import Bank of Thailand (Exim Bank) has started offering personal loans of up to 2 million baht to new entrepreneurs to help boost Thai exports.
Exim Bank president Rak Vorrakitpokatorn said on Thursday that small-time business operators often face a lack of funding or liquidity for starting a new business or expanding their existing ones.
“As their business has yet to start or has just started, they have a lot of risk factors, which make it difficult for them to get loans,” Rak said.
He added that Exim Bank is joining forces with Thai Credit Guarantee Corporation in extending loans to borrowers seeking personal loans under this project.
To be eligible for the project, prospective applicants must be an original equipment manufacturer or original brand manufacturer that is export-oriented.
They can borrow up to 2 million baht, with a starting annual interest rate of 7.75 per cent. Applications for loans can be submitted until June 30 next year.
The Exim Bank president described this new product as a “game changer for Thailand” intended to help increase the number of Thai exporters to boost economic and industrial growth.
“Exim Bank works with other elements in unlocking business restrictions while creating new opportunities for communities and businesses. The goal is to create more strong Thai economic warriors in the world market,” he said.
