Applicants must have a guarantee from the Small Industry Credit Guarantee Corporation (SICGC) which requires the following qualifications:
- The enterprise shall be an individual person or juristic person with Thai nationality. The business must operate in Thailand.
- Small and medium sized enterprises from any sector with the total net fixed assets on the date of the loan application shall not exceed 200 million Baht in total.
- The land and buildings of the enterprise will be used as collateral by the lender. In cases where the borrower does not own the land or building, they may pledge the leasehold as collateral. However it must have at least a three-year tenure. But there are exceptions:
- a leased property from a state
agency can be used as a collateral if
the lease contract has more than
one year of life remaining.
- a leased property from a private
company can be used as a collateral
if the lease contract has more
than two years of life remaining.
4. All applicants must have invested at
least 20% of the total investment in
their business.
5. Depending on the loan conditions
a personal guarantor is required
for all guarantee projects. |
