The Bank of Thailand introduces three new mechanisms to help SMEs access credit, starting late 2026.

The Bank of Thailand is preparing to launch three mechanisms: an SME Credit Portal, a new guarantee mechanism, and an Alternative Data Bureau to address the problems of SMEs being denied loans and lacking access to funding. The focus will be on high-potential SMEs. The initiative is expected to begin in late 2026 and continue until 2027.

On September 9, 2026 , Mr. Witai Rattanaporn, Governor of the Bank of Thailand (BOT), stated in a presentation on "SMEs: A Driving Force for the Thai Economy in the Future" at the TNN Future Forum 2569 “Thailand Beyond Tomorrow” that the BOT's role differs from that of the U.S. Federal Reserve (Fed) because the BOT is responsible for both monetary policy and the supervision of financial institutions. Therefore, the measures implemented are based on the exercise of regulatory powers to directly address structural problems within financial institutions.

The Thai economy has faced five major economic shocks in the past 10 years, resulting in a continuous decline in its growth potential. Before the 1997 crisis, the Thai economy grew at an average rate of 7-8% per year. However, after the 1997 crisis, it slowed to 5.3%, followed by the global financial crisis at 3.7%, and after the COVID-19 crisis, it averaged only 2.4%.

For the overall picture in 2569, growth was initially projected at only 1.8–1.9%. However, due to government economic stimulus measures, the economy expanded by approximately 2.3%. Nevertheless, this rate is considered too low compared to the ideal level of 3–4%, resulting in household and business income not keeping pace with expenditure. This is a consequence of accumulated structural problems including political instability, an aging society, the education system, and the problem of illicit businesses.

Mr. Witai further stated that the Bank of Thailand places special emphasis on addressing the problems of SMEs, as they are a crucial engine employing 13.6 million people, representing 70% of total employment, and accounting for 35% of GDP. However, SME loan growth has been negative for 16 consecutive quarters, contrasting with large corporate loans which have begun to show positive growth, reflecting a clear K-shaped recovery pattern. Meanwhile, several structural crises facing Thai SMEs are still evident, such as...

1. Their contribution to GDP has decreased. In the past, during periods of GDP growth of 3.5%, SMEs contributed as much as 1.9% to that growth, but now they are only about 1%.
2. The survival rate is low. Data from approximately 130,000 SMEs established as legal entities shows that after 10 years, 50% will close down, and after 25 years, only 30% will survive.
3. Profitability potential has declined. SMEs established after 2556, after 10 years of operation, experience significantly slower revenue growth than older SMEs.
4. Access to credit is difficult for new SMEs with no prior financial history, resulting in a high rejection rate of 78%. Only 11% of SMEs established 0-5 years ago are able to access loans, while SMEs with a history of bad debt face a rejection rate of 86%, and the actual rate may be as high as 90%. Even the top 30% of A-grade SMEs, with the highest efficiency, only manage to access loans at a rate of 21%, compared to the top 30% of large businesses which achieve 61% access.
5. Bearing high interest costs, SMEs face an average interest cost of up to 6.9%, while large businesses pay only around 3.9% or approximately 3% currently. A major reason for this is the soaring non-performing loan (NPL) rate for SMEs, which has reached around 9–9.5%, compared to large businesses with NPLs below 2%.
6. Zombie Firms Soar: The number of businesses (or "zombie firms") that don't generate enough profit to pay interest has increased from 2% to nearly 6%.

“We cannot help all SMEs access loans, especially those that lack potential or fail to adapt, such as zombie firms. Loans will need to be provided as they are. Meanwhile, for the real sector, the Bank of Thailand will focus on supporting profitable and growing SMEs, which account for approximately 38% of the total, as the primary target group for loan access. This is to ensure their continued growth and enable them to drive the economy forward.”

Mr. Witai stated that in order to reduce the significant obstacle of credit cost to the Bank of Thailand, a new ecosystem has been established through three main projects, which will begin to show results from the end of 2026 to 2027.

1. SME Credit Portal A central platform will match promising SMEs with financial institutions, including commercial banks, state-owned financial institutions, and non-bank financial institutions, to address information gaps. This will be achieved through integrated collaboration with the Thai Chamber of Commerce, the SME Federation, and financial institutions. The platform is expected to launch in December 2569.
2. A new form of credit guarantee mechanism. This initiative will run parallel to the Small and Medium Enterprise Credit Guarantee Corporation (SMEG) without using government funds, but instead utilizing approximately 20,000 billion baht contributed to the Financial Institutions Development Fund (FIDF). Tests have shown that this mechanism can disburse 70,000 billion baht in loans, with a target of 80,000 billion baht. The long-term goal is to disburse 100,000 billion baht annually. Combined with SMEG's 100,000 billion baht, this will result in a total guarantee limit of 200,000 billion baht per year, representing half of the total annual SME loan demand of approximately 400,000 billion baht. The proposal is expected to be submitted to the Minister of Finance within the next 3-4 months and is hoped to be implemented by 2570.
3. Alternative Data Bureau A collaborative project hosted by the Ministry of Finance, which will collect alternative data such as water bills, electricity bills, tax payments, E-statements, Payment Gateway data and mobile phone data to analyze debt repayment capacity. It has two main objectives: (1) to help self-employed individuals and SMEs access formal credit more easily, and (2) to screen out and remove grey businesses or unusual transactions such as gold, foreign currency, and cryptocurrency from the financial system. This project is expected to be implemented in 2027.

“All three initiatives—the SME Credit Portal, the new guarantee mechanism, and the Alternative Data Bureau—will be crucial tools in transforming the financial ecosystem, helping promising SMEs move forward. This is part of the Bank of Thailand's commitment to addressing the country's structural problems.”

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