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GSB’s new loan scheme for SMEs hits Bt10 billion limit in three days

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The Government Savings Bank (GSB) has launched a new loan campaign in which small and medium businesses (SMEs) in tourism and related industries affected by the Covid-19 outbreak can use their land title deed as collateral for loans.

The campaign had been approved by the Cabinet on February 15 as part of a plan to revive the tourism industry after the Covid-19 fallout.

“The campaign started on February 18 and so far over 1,500 entrepreneurs have applied for loans,” bank president Withai Ratanakorn said on Monday.

“The loan budget of Bt10 billion has already been requested by the registrants, so we decided to close registration via the website until further notice.”

Withai added that the registration only lets applicants state the amount they wished to borrow while no approval had been granted yet.

“The bank would now consider each applicant and would only grant loans to those who were in eligible industries as well as present a valid collateral,” he said. “If the bank has leftover budget from the first round of consideration, we will later open registration for the second round.”

Published : February 22, 2021