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GSB offers loans to keep SMEs’ cash flowing

Jan 20. 2020
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By THE NATION

Government Savings Bank (GSB) has earmarked Bt50 billion for loans allowing small and medium-sized enterprises (SMEs) to pay off principle owed to financial institutions.

GSB president Chatchai Payuhanaveechai said on Friday (January 17) the loans will be available until December.

In an example cited, an SME owing Bt10 million in principle on a Bt50-million loan from any bank can borrow the Bt10 million from GSB.

The SME has to pay the principle first and use a receipt of the payment to secure the GSB loan in monthly instalments over 12 months.

The GSB loans cover a lending period of six years, with a grace period for the principle payment of one year.

Chatchai said the campaign is not intended to help SMEs refinance their debt, but rather enhance their liquidity.

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