GHB to launch loan app offering 8,000 to 1 million baht loans

The Government Housing Bank (GHB) is set to launch an application-based loan service aimed at small businesses, offering loans ranging from 8,000 to 1 million baht, with interest rates as determined by the Bank of Thailand (BoT).

The Director of GHB, Withai Rattanakorn, announced that by next year, the bank targets to accelerate plans to enhance social support and long-term competitive capabilities through a group company management approach involving four companies.

The first is Mee Tee Mee Ngern Co., Ltd., which will focus on land loan and sale-and-leaseback businesses, aimed at increasing loan accessibility for SMEs with lower-than-market interest rates.

The second entity, Ari Asset Management Co., Ltd. (ARI-AMC), is designed to address household debt issues with flexible conditions. They have already signed contracts to transfer the first batch of over 140,000 accounts.

The third company, Ngern Dee Dee Co., Ltd., aims to expand loan accessibility for grassroots communities by offering loans through the Good Money by the Government Savings Bank (GSB) application. The company, spearheaded by Managing Director Sirinan Jiradilok, will launch early next month.

The app will provide personal and small business loans ranging from 8,000 to 1 million baht, with repayment terms starting from 12 months. Interest rates will align with the BoT’s guidelines and factor in customer risk, reported KhaoSod.

The fourth company, GSB IT Management Co., Ltd., is tasked with enhancing the bank’s digital and AI capabilities.

“The goal is to provide accessible financial services to a broader range of customers.”

Sirinan emphasised that the new app will be pivotal in offering convenient and quick loan services tailored to the needs of everyday people and small business owners.