Govt sets aside THB2-bn to help Bangkok restaurants pull through crisis
The Cabinet has earmarked 2 billion baht to help restaurants affected by regulations restricting patrons from dining on the premises.
The new remedy, called “Im Jai Loan”, will be limited to a maximum of 100,000 baht per applicant and will apply to established food and beverage businesses, such as restaurants and eateries or stalls in department stores' food courts.
The loan will be granted at an annual interest rate of 3.99 per cent for no more than five years, with borrowers being given a payment respite for the first six months.
The loans will be granted by the Government Savings Bank until December 31 and the measure applies to businesses in Greater Bangkok and border provinces in the South.
It is expected that up to 40,000 businesses will seek to borrow about 50,000 baht each on average.
The government already has a similar measure for roadside food vendors, who can borrow up to 10,000 baht from the Government Savings Bank at a monthly interest of 0.35 per cent. This loan is for a term of three years and borrowers do not have to make any payments for the first six months. Applications for this loan will also be accepted until December 31.