SME bank responds to flooded customers
The Small and Medium Development Bank, or SME Development Bank, said it has launched emergency measures to help its customers in flood-hit areas
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They have suspended loan payback requirements and will allow restructuring of loans for six months for affected customers staying in the flooded areas.
The bank also says it will suspend payment of interest on loans for the first six months of a customer’s promissory note.
The bank also offers a five-year emergency loan with a one-year grace period and a 4.99 per cent interest rate. Customers will also get a loan guarantee from Thai Credit Guarantee Corporation for rehabilitating their business due to the flood.
Customers with loans under Bt1 million can also get an emergency loan up to Bt500,000. Customers who have worth between Bt1 million and Bt5 million can get emergency loans of up to Bt1 million for their business. Customers with loans over Bt5 million can get an emergency loan worth up to Bt2 million to rehabilitate their business, said the bank’s president, Mongkon Leelatham.
