SME Bank offers debt relief to businesses hit by storm.
The state-owned Small and Medium Enterprise Development Bank will offer debt relief to businesses affected by tropical storm Pabuk in the southern provinces, Mongkol Leelatham, president of the SME Bank, said on Sunday.
The bank will offer debt suspension for six months. Borrowers need not repay the principal or the interest amounts. The bank is also offering disaster victims emergency loans for a five-year period with a one-year grace period for debt repayment. An interest of only 0.415 per cent will be charged per month, he added.
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