Thailand Launches AI Nok Krasip Loan Program for SMEs, Up to 3 Million Baht Available

The Thai government has introduced the AI Nok Krasip program, offering three loan options to help merchants and small businesses access formal financing, with credit lines ranging from 50,000 baht to 3 million baht. The initiative aims to facilitate access to capital by utilizing sales and transaction data recorded through the Tung Ngern app, supplementing traditional financial documents for loan assessments. According to Deputy Government Spokesperson Lalida Perisvivatana, the GSB QR Maha Heng x Nok Krasip Loan provides up to 50,000 baht without collateral at a fixed interest rate of 0.75% per month. Krungthai Bank offers its Sip Muen Loan, providing up to 500,000 baht at rates starting from 11% per year, and its SME Size Lek Loan, which offers up to 3 million baht at rates starting from 3.5% per year, fixed for the first two years. All three loan products are offered without an application fee. AI Nok Krasip can leverage sales figures, income trends, and transaction records from the Tung Ngern app, including data generated through government programs such as Thais Help Thais Plus. This allows banks to assess businesses that may lack conventional financial statements or salary slips. However, recorded sales do not guarantee loan approval, as banks will still consider eligibility, repayment ability, and product-specific requirements. Business owners are advised to borrow according to their actual needs and to carefully compare interest rates, repayment terms, and overall costs. Those lacking sufficient collateral or guarantors can also seek credit guarantees from the Thai Credit Guarantee Corporation, though a guarantee does not automatically secure loan approval. Information Source: Pattaya Mail