Bangkok: "Pipat" has unveiled a 30 billion baht loan initiative aimed at maintaining employment and supporting businesses throughout Thailand. The initiative is designed to stimulate the grassroots economy and bring social security by partnering with six major banks, offering a low-interest rate of 2.63% fixed for three years.
According to Thai News Agency, on May 29, 2025, Mr. Phiphat Ratchakitprakarn, Minister of Labor, oversaw the signing ceremony of the Memorandum of Understanding on the Employment Promotion Loan Project, Phase 3 (2025-2026). This event marked a collaboration between the Social Security Office and six major banks: Bank for Agriculture and Agricultural Cooperatives (BAAC), Export-Import Bank of Thailand (EXIM BANK), Krungthai Bank Public Company Limited, Bangkok Bank Public Company Limited, UOB Public Company Limited, and Thai Credit Bank Public Company Limited. The ceremony was held at the Vayuphak Grand Ballroom, Centara Life Hotel in Bangkok, and attended by key figures including Mr. Boonsong Thapchaiyut, Permanent Secretary of the Ministry of Labor, Mrs. Marasri Chairangsi, Secretary-General of the Social Security Office, and representatives from the Thai Chamber of Commerce and the Thai SME Confederation.
The third phase of the loan project aims to provide businesses with access to low-interest funding sources, ensuring the maintenance of employment within the social security system and supporting economic circulation at the grassroots level. The project is funded with a total budget of 30 billion baht, comprising 20 billion baht from the Social Security Fund and 10 billion baht from the central government budget.
Mr. Pipat emphasized the importance of this initiative in helping businesses retain workers and provide stability for employees. He stated, "This is a gift from the Ministry of Labor to maintain businesses - maintain people and keep Thai workers in a system that is continuously protected."
Mrs. Marasri Chairangsi elaborated on the eligibility criteria, stating that businesses must have paid contributions for at least 12 consecutive months and maintain at least 80% employment throughout the contract period. The loan amounts vary based on the size of the business, with a maximum of 15 million baht for businesses with up to 200 employees, 30 million baht for those with 201-500 employees, and 50 million baht for larger businesses.
Interest rates are set at a fixed rate of no more than 2.35% per year for the first three years for businesses with collateral. For those without collateral, the rate will not exceed 4.75% per year. EXIM BANK customers with a good payment history will benefit from a special rate of no more than 2.00% per year. From the fourth year onwards, rates will be determined by each bank, with Thai Credit Bank offering an additional floating interest rate based on risk level. Applications for loans will be open from July 2025 to December 30, 2026, or until the budget limit is reached.
The Social Security Office noted that previous phases of the project have supported over 3,400 businesses and preserved more than 200,000 jobs. The current phase aims to extend its assistance to businesses in every province, providing a crucial policy tool to mitigate labor impacts during economic transitions.
Entrepreneurs interested in the program can obtain further information from the Social Security Office nationwide, call the 24-hour hotline at 1506, or visit the website www.sso.go.th.