Bangkok: BAAC and the Social Security Office have unveiled a significant initiative to support entrepreneurs within the social security system by offering low-interest loans valued at 30 billion baht. This move aims to facilitate business expansion and ensure continuous employment.
According to Thai News Agency, Mr. Paisarn Hongthong, Deputy Managing Director of the Bank for Agriculture and Agricultural Cooperatives (BAAC), participated in the signing ceremony for the Memorandum of Understanding on the Employment Promotion Loan Project, Phase 3 (2025-2026). The agreement, formed between the Social Security Office (SSO), BAAC, and five financial institutions, is designed for entrepreneurs registered with the SSO. These entrepreneurs must have consistently contributed to the Social Security Fund for at least 12 months and should maintain a workforce of insured persons at no less than 80 percent to qualify for low-interest funds. The project budget is set at 30 billion baht, with a collateral-backed interest rate capped at 2.35 percent per year, fixed for the first three years.
Eligible businesses can apply for these loans from July 2025 until December 30, 2026, or until the credit limit is reached. The signing ceremony was graced by Mr. Phiphat Ratchakitprakarn, Minister of Labor, and Mr. Boonsong Thapchaiyudh, Permanent Secretary of the Ministry of Labor, and took place at the Vayuphak Grand Ballroom, Centara Life Hotel, Government Complex and Convention Center, Chaeng Watthana.