FRIDAY, March 29, 2024
nationthailand

Exim Bank’s advisory clinic ready to help small businesses

Exim Bank’s advisory clinic ready to help small businesses

The Export-Import Bank of Thailand (Exim Thailand) launched its “Phone-in Export Advisory Clinic” to provide financial advice to entrepreneurs so they can survive the current crisis.

The clinic can be contacted by calling (02) 617 2111 extension 3510-2.
The focus is on small- and medium-sized enterprises (SMEs), which according to bank president Pisit Serewiwattana are the main engine driving Thailand’s economic growth.
As part of the bank’s measures to help clients, the advisory clinic will provide financial advice as well as arrange financial assistance schemes and packages designed on a case-by-case basis. The clinic also provides online training programs to help boost entrepreneurs knowledge and understanding of business, along with the expansion of business networks.
Other schemes include:
• Suspending principal and interest debt payment for six months for clients that have both long- and short-term credit lines with the bank;
• Extending payment terms by up to 270 days for export credit insurance clients that are exporting to countries affected by the Covid-19 as reported by the World Health Organisation, free coverage for perishable goods shipped to China at the rate of 50 per cent of the invoice value, and shortening the time it takes to provide compensation in case goods delivered are rejected by the buyer.
• Special Interest Rate Credit Facility
• Seven-year credit facility for clients and general entrepreneurs that have a maximum credit line of Bt20 million at the special interest rate of 2 per cent per annum in the first and second years to use as a revolving fund in export and investment-related businesses that were hit by the Covid-19 outbreak.
• A two-year short-term credit facility for clients that have a group credit line of Bt500 million or less with the bank, each with a maximum credit line of 20 per cent of outstanding debt as of December 31, 2019 at a special interest rate of 2 per cent per annum, but free of interest for the first six months, to use as a revolving fund in export and investment-related businesses that were hit by the outbreak.
• Seven-year credit facility for clients and general entrepreneurs in all sectors each with a maximum credit line of Bt100 million at a special interest rate of 2 per cent per annum in the first and second years for use in the purchase of modification of machinery and equipment or for renovating factories.
• Up to seven-year credit facility for entrepreneurs with a maximum credit line of Bt15 million at a minimum interest rate of 3 per cent per annum to use for employment credit.

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