Thursday, October 22, 2020

GSB earmarks Bt15 billion as soft loans for tourism SMEs

Aug 31. 2020
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By THE NATION

The Government Savings Bank (GSB) is offering soft loans to small and medium-sized enterprises (SMEs) affected by Covid-19 in the tourism industry, GSB president Withai Ratanakorn said.

“Two loans are now being granted. One is the ‘Loan for Restoration of Thai Tourism’ with a budget of Bt10 billion. Eligible applicants must be operators or supply chain providers in tourism-related businesses who have been affected, either directly or indirectly, by the Covid-19 outbreak,” he said.

“The maximum loan limit is Bt20 million per customer, whereas GSB will provide loans to commercial banks and state-run financial institutions at 0.01 per cent interest annually, while the institutions will grant the loan to customers at 2 per cent interest annually. This campaign is expected to start by mid-September.

“The other one is the ‘Loan for Tourism SMEs’ with a budget of Bt5 billion. Eligible applicants include operators of such businesses as hotels, guest houses, restaurants, spas, traditional massage parlours and tour guides that have been doing business in tourism field for at least two years,” added Withai.

“The loan limit for each customer is Bt500,000 with fixed interest rate at 3.99 per cent annually and five years repayment plan. This loan will offer a one-year grace period and will require a personal guarantor,” he said.

“We hope that the loan programmes totalling Bt15 billion will help operators of tourism-related businesses to get back on their feet from the impact of Covid-19 and continue their businesses in the new normal era,” Withai added.

Interested people can contact GSB’s SME Call Centre at 02-299-8899.

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