Remedial measures for SME bank customers

Remedial measures for SME bank customers

By THE NATION

The Small and Medium Enterprise Development Bank of Thailand has contacted its customers nationwide, suggesting remedial measures for them amid Covid-19, bank president Nartnaree Rathapat said.

“We have issued the measures and allowed customers to avail of them since January,” she said. “They can contact our branches for help until June 30.”

The remedial measures cover all business, whether impacted by the virus directly or indirectly, including accommodations, restaurants and supply chains.

“One of the measures is the suspension of payment,” Nartnaree said. “Businesses impacted directly by the virus can suspend credit payments by up to 12 months while those affected indirectly can delay their payments at most for six months.”

The bank is allowing its customers to expand their guarantees to up to five years free of charge. 

Source: https://www.nationthailand.com/news/30383174

“Our loan measure offers an interest rate at 3 per cent in the first three years for companies, with a Bt1-million limit,” she added. “For people, the rate is 5 per cent for the first three years, with a Bt500,000 limit.”