Sunday, October 20, 2019

SME D Bank aids clients hit by flooding

Sep 20. 2019
Pongchan
Pongchan
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By The Nation

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The Small and Medium Enterprise Development Bank of Thailand will suspend debt and interest repayments for six months for clients affected by the severe flooding in the North and Northeast.

Deputy managing director Pongchan Sum-pao-ngern said they will also be eligible for emergency loans to help restore their businesses at 0.415 per cent interest for five years with a grace period in the first year.

Clients with an approval limit under Bt1 million are eligible to a maximum Bt500,000. Those at Bt1 million-Bt5 million are eligible for Bt1 million, and those at Bt5 million and up can apply for a loan of up to Bt2 million.

The amount of existing and additional loans must not exceed Bt15 million in any case.

“For new customers, the bank has prepared a Local Economy Loan with a repayment period of seven years and 0.417 per cent interest per month in the first three years,” Pongchan said.

“This is aimed at providing a working fund for additional investment and business expansion in areas such as agricultural processing, tour operators and consumer-product retailers.”

The maximum limit for individual clients is Bt2 million and for juristic clients Bt5 million.

The bank also offers a Transformation Loan for customers needing to upgrade machinery, vehicles or computer software with 0.333 per cent interest for seven years.

Pongchan said new and existing customers can register and apply via the SME D Bank’s application or the call centre at 1357.

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