Micro OTOP
Product Details
Thai Credit Bank PCL has launched “Loan for OTOP Entrepreneurs” for OTOP producers and entrepreneurs without requiring any collaterals or guarantors in order to help both groups (Sole Producers and Community Enterprises) promote their local wisdom & grow their business sustainably and use the loan as working capital to create their financial liquidity. For those OTOP producers and entrepreneurs who are interested, they can apply for this loan thru Thai Credit Bank’s lending branches nationwide.
- Maximum credit limit THB 200,000
- A Revolving Loan with no maturity date and 1-year credit limit review annually according to Bank’s terms and conditions
- Interest rate 28% p.a.*
- No collaterals or guarantors required
- This loan is designed for OTOP producers and entrepreneurs who are approved by the Community Development Department (CDD) under Ministry of Interior nationwide
Note: *The interest rate is the actual interest rate (Effective Interest Rate) on a reducing rate basis.
Qualifications and Documents Required
Qualifications
- • Individuals
- In the case of sole producers, the borrower must be a person certified in the OTOP producer and entrepreneur registration certificate.
- In the case of community enterprises, the borrower must be a person certified in the OTOP producer and entrepreneur registration certificate and must be the chairperson of the community enterprise only. - Thai nationality only
- Be at least 25 years old
- The age of the borrower who owns the business must not exceed 60 years old
- Borrowing for business purposes only
- Must have at least 1 year of business experience
- Business must have a definite business establishment and can be verified
- Business location must be within a specified radius
- The business is still operating at present
- Borrower must have at least one product that passed the selection of the best One Tambon One Product Thailand Product (3-5 stars)
Application Documents
- Copy of the borrower's national ID card
- OTOP producer and entrepreneur registration certificate
- For community enterprises, borrower must be the chairperson and additionally submit a minute of meeting of the community enterprise.
- Copy of the certificate of the selection of the best One Tambon One Product Thailand (3-5 stars)
- Map of the borrower's business location
- Clear photos of all registered products, business, stock and business owners.
- Supporting documents for income assessment: Purchase-Sales Receipts, Purchase-Sales Invoices, Purchase-Sales Cash Bills, Bank Statements or Micro Pay QR Statements for the last 3 months.
- Copy of the first page of borrower’s bank account to receive a loan
- Name/surname change certificate (if any)
- Business registration (if any)
Important Notes :
- Borrow only as much as you need and can afford to repay
- Loan approval details are in accordance with the Bank’s established criteria and conditions
- If you pay more than the installment, it will help reduce interest and pay off debt faster.
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FAQ
It is a loan provided to OTOP producers and entrepreneurs without requiring any collaterals or guarantors to help both groups (sole producers and community enterprises). The loan type is a revolving loan which is repaid in installments.
Thai individuals aged 25-60 years old who are OTOP producers and entrepreneurs of both sole producers and community enterprises with the certificate of the selection of the best One Tambon One Product Thailand (3-5 stars).
Preliminary application documents
- Copy of the borrower's national ID card
- Name/surname change certificate (if any)
- OTOP producer and entrepreneur registration certificate
- For community enterprises, borrower must be the chairperson and additionally submit a minute of meeting of the community enterprise.
- Copy of the certificate of the selection of the best One Tambon One Product Thailand (3-5 stars) Supporting documents for income assessment: Purchase-Sales Receipts, Purchase-Sales Invoices, Purchase-Sales Cash Bills, Bank Statements or Micro Pay QR Statements for the last 3 months.
- Spouse documents (if any)
Credit limit is THB 20,000-200,000 and interest rate is calculated as an effective rate with the loan approval within 7-9 business days (after all required documents are complete).
None.
You can inquire about product details thru Customer Service at 02 697 5454 or at any branch of our Lending Branch nationwide.
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