The ‘Secondhand Pickup Truck with Finance Guarantee’ (‘Krapue Phi Mee Khlang Kham’), launched on Sept 2, provides B1 billion in loan guarantees, beginning with an initial B500 million, to help SMEs access vehicle financing.
Pickup trucks remain an essential tool for many small enterprises in Phuket, from local delivery services and agricultural producers to those in the tourism supply chain. However, rising repossessions and tighter lending by banks in recent years have left many unable to secure credit, despite strong demand.
TCG Director and General Manager Sitthikorn Direksunthon said the new measure is aimed at “unlocking” opportunities for small operators with irregular incomes by reducing the risk for lenders.
“We want to help SMEs, farmers and transport providers gain easier access to financing for used pickup trucks, so they can move forward sustainably,” he said.
The used pickup truck market is currently valued at around B17 billion nationwide, but declining prices and nearly doubled repossessions between 2023 and 2024 have made financial institutions cautious.
TCG estimates that more than 7,600 SMEs will benefit from the scheme, generating B3.4bn in new loans, preserving over 153,000 jobs, and adding at least B14bn to the economy.
Local business leaders in Phuket have welcomed the move, noting that affordable access to commercial vehicles is critical for tourism-related services, construction suppliers and rural communities across the island.