On May 29, Labor Minister Pipat Ratchakitprakarn presided over and witnessed the signing of a memorandum of understanding (MoU) for the Phase 3 Employment Promotion Loan Project (2025–2026) between the Social Security Office and six major banks: Bank for Agriculture and Agricultural Cooperatives (BAAC), Export-Import Bank of Thailand (EXIM), Krungthai Bank, Bangkok Bank, UOB Bank, and Thai Credit Bank. The event was held at the Centara Life Government Complex Hotel in Bangkok.

Minister Pipat emphasized that this large-scale collaboration aims to help businesses access low-interest financing, supporting continued employment within the social security system, and stimulating grassroots economic activity. The program’s total budget is 30 billion baht, comprising 20 billion from the Social Security Fund and 10 billion from the central government budget.

“This is a gift from the Labor Ministry to sustain businesses and protect workers by ensuring continuous social security coverage,” said Pipat.

SSO Secretary-General Marasri Chairangsee outlined the eligibility criteria: businesses must have contributed to the Social Security Fund for at least 12 consecutive months and pledge to retain at least 80% of their workforce during the loan term. Loan caps are tiered by business size—up to 15 million baht for firms with ≤200 employees, 30 million for those with 201–500 employees, and 50 million for firms with more than 500 employees.

Interest rates for secured loans are capped at 2.35% for the first three years, and up to 4.75% for unsecured loans. Returning EXIM Bank customers with good repayment records may qualify for rates as low as 2.00%. After year three, rates are set by each bank, with Thai Credit Bank offering flexible rates based on borrower risk.

Applications open in July 2025 and close by December 30, 2026, or until the funds are fully allocated. Applicants must obtain a certification from the SSO via www.sso.go.th before applying at any participating bank.

Phases 1 and 2 of the program supported over 3,400 businesses and preserved more than 200,000 jobs. Phase 3 is designed to reach even more businesses across all provinces, serving as a key policy tool during economic transitions.