Buy pickup trucks for business; SME D offers guarantees up to 1.5 million baht per borrower. Toyota Leasing is ready to provide loans, unlocking opportunities for small entrepreneurs and micro SMEs to use vehicles for their occupations.
On 27 Nov 2025 GMT+7, Mr. Sithikorn Direksuntorn, Director and General Manager of the Small and Medium Enterprise Development Guarantee Corporation (SME D), said SME D has partnered with Toyota Leasing (Thailand) Co., Ltd. to guarantee commercial pickup truck hire-purchase loans under the "Pickup Phee Mee Khlang Kam" scheme. This targets SMEs and micro SMEs applying for hire-purchase loans through Toyota Leasing.
SME D provides loan guarantees with benefits including no guarantee fees for the first three years. For years four to seven, a low guarantee fee of just 1.5% per annum of the guaranteed debt is charged. The guarantee covers up to seven years or 84 installments, with a maximum guarantee amount of 1.5 million baht per borrower.
The goal of this measure is to unlock easier credit access for SMEs, support the currently sluggish automotive industry to regain momentum, and thereby positively impact the overall Thai economy.
The "Pickup Phee Mee Khlang Kam" scheme is a key government initiative to help SMEs gain easier access to loans through SME D’s credit guarantee mechanism. This builds confidence among financial institutions to extend credit and increases loan approval rates for SMEs needing pickup trucks as tools of their trade, including farmers, construction contractors, freight transporters, traders, and food truck operators.
"SME D's guarantee mechanism is designed specifically for groups traditionally underserved by credit. Small entrepreneurs stand to benefit from this program. Currently, most of SME D’s guarantee portfolio comes from service sectors such as tourism, construction, restaurants, logistics, and especially agricultural processing, which aligns well with pickup truck usage," he explained.
So far, about 2 billion baht of guarantee funds have been utilized, leaving approximately 3 billion baht still available. SME D is currently negotiating with the Ministry of Finance to extend the program duration into next year, beyond the original end date of 30 December 2025, in case the allocated budget is not fully used.
Mr. Supakorn Rattanaworaha, Senior Executive Vice President of Toyota Motor Thailand Co., Ltd., said SMEs and small entrepreneurs are crucial to Toyota’s vehicle sales. He acknowledged that the market has faced significant challenges this year.
However, the market is gradually recovering because the automotive industry relies heavily on domestic suppliers, especially companies with high local content usage. For example, the Toyota Hilux uses up to 95% local parts.
Therefore, when sales decline, it creates a chain reaction affecting parts manufacturers and ultimately impacts the national economy, since the automotive sector is a pillar of Thailand’s economy.
For the pure pickup truck market (single-cab pickups), cumulative sales from January to September totaled 107,150 units, a 15.3% decrease. A major reason is the persistently high loan rejection rates, which dampen consumer confidence and purchasing power, slowing overall sales.
Nonetheless, this collaboration, by increasing customer access to loans guaranteed by SME D, is expected to help boost sales and maintain industry continuity, ultimately benefiting the Thai economy broadly.
"Toyota normally has an auto loan collection system and continuously improves processes aligned with current lending practices to stimulate sales. We expect the "Pickup Phee Mee Khlang Kam" scheme to boost Toyota’s pickup truck sales by about 5-10% by the end of 2025," he said.
Ms. Chuenkamol Thapparangsee, Managing Director of Toyota Leasing (Thailand) Co., Ltd., stated that SME D’s loan guarantee is a vital mechanism that increases loan approval chances for customers who may not meet the company’s standard criteria. It supports and opens opportunities for small entrepreneurs to truly own pickup trucks for business use.
She expects SME D’s guarantee to help expand Toyota Leasing’s new customer base and drive loan disbursement growth among clients needing commercial pickups, which will expand business opportunities and strengthen the overall automotive market.
Mr. Saran Thongthamachat, Chairman of the Thai Hire-Purchase Business Association, said allowing non-bank leasing companies to join SME D’s program is a new dimension in Thailand’s hire-purchase industry. Currently, about 50% of pickup truck loans come from financial institutions and 50% from non-banks, mostly captive finance companies.
This collaboration elevates the hire-purchase industry and paves the way for expanded partnerships between non-banks and SME D for future projects, supporting easier SME credit access and helping revive automotive sales depressed by economic conditions.
SMEs interested in purchasing pickup trucks for their businesses can visit Toyota dealerships nearby and apply for loans with Toyota Leasing, guaranteed by SME D. They can also register for the program via LINE OA: @tcgfirst at no cost.