Bangkok: The Thai Credit Guarantee Corporation (TCGC) has announced the extension of its “Pickup Truck Guarantee” program until December 30, 2026. The program offers a total guarantee amount of 3.7 billion baht, with waived guarantee fees for the first three years, catering to small and medium-sized enterprises (SMEs) and farmers needing pickup trucks for their livelihoods.
According to Thai News Agency, Mr. Sittikorn Direksuntorn, Director and General Manager of the Small and Medium Enterprise Credit Guarantee Corporation (SMEG), highlighted that the scheme provides a total guarantee limit of 3,700 million baht. After the initial three-year waiver, a low guarantee fee of 1.5% per year will apply from years four to seven. The guarantee period extends up to seven years or 84 installments, with a maximum guarantee amount of 1.5 million baht per borrower. The initiative aims to facilitate SME access to credit and invigorate the automotive industry, ultimately enhancing Thailand’s economic growth.
The extension of the “Pickup Truck Guarantee” scheme has garnered positive responses from leasing companies, including captive finance and subsidiaries of financial institutions. The TCGC currently guarantees hire-purchase loans from eight financial institutions and leasing companies, such as Kiatnakin Phatra Bank, TMB Thanachart Bank, and Toyota Leasing, among others.
Mr. Teerachart Jirajaraspong, Managing Director of Kasikorn Leasing Company Limited, noted that the extension is vital for entrepreneurs, enhancing SME access to pickup trucks, thus increasing their income and competitiveness. The collaboration with TCGC is recognized as essential by the Auto Loan Working Group under the Thai Bankers Association.
Mr. Takashi Hata and Mr. Takashi Miyaji from Tri Petch Isuzu highlighted the program’s benefits for SMEs and the automotive industry, supporting both sustainable growth and Thailand’s economic recovery. The project provides crucial tools for business expansion and sustainability in the SME sector.
Ms. Chuenkamol Tapparangsi from Toyota Leasing expressed optimism that TCGC’s involvement will bolster loan growth in the commercial pickup truck segment, expanding business opportunities and strengthening the automotive market.
SMEs interested in purchasing pickup trucks can apply for loans through eight leasing companies with TCGC as a guarantor or register via LINE OA: tcgfirst, free of charge.