Monday, December 09, 2019

GHB granting loans to homestays, home lodges

Nov 12. 2019
Chatchai Sirilai , The Government Housing Bank president
Chatchai Sirilai , The Government Housing Bank president
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By The Nation

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The Government Housing Bank (GHB) is granting loans to homestay and home lodge entrepreneurs with a fixed interest rate of 4.20 per cent for the first five years.

Bank president Chatchai Sirilai said this would support Finance Minister Uttama Savanayana’s measure to stimulate tourist spending in local areas in order to boost the economy. 

“The GHB is granting loans for homestay and home lodge entrepreneurs, individuals or corporations, with a fixed interest rate of 4.20 per cent for the first five years and a maximum loan amount of Bt3 million,” he said. 

“From the sixth year until the end of the agreement, the minimum retail rate [MRR] will be 0.75 per cent a year. From November 13, the MRR is 6.5 per cent a year until any change is announced,” said Chatchai.

He said the purposes of granting loans are: constructing or redeeming the mortgage of homestays or home lodges from other financial institutions; renovating or repairing the accommodation; buying land and property; buying equipment and adding facilities; or paying debts on land, property, equipment or facilities. 

“Entrepreneurs can contact the bank from November 13 until December 30 this year to apply for a loan, or they can apply between January 2 and December 30 next year,” he added.

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