Cabinet approves low-interest hotel recovery loan

[snoop1130]

 

BANGKOK (NNT) - Hotel operators have been severely affected by the COVID-19 pandemic, as the government has been offering continued support to assist these establishments, with the latest form of support being a low-interest loan offer for hotels and related businesses.

 

The Thai government has announced the Re-Open low-interest loan offers for hotels and related supply chain businesses affected by the pandemic. The announcement was made by government spokesman Thanakorn Wangboonkongchana. A 5 billion baht budget has been allocated for this loan program.

 

The loans will be offered via the Government Savings Bank (GSB) to some 1,000 businesses, including the existing and new GSB clients for up to 5 million baht per client.

 

Loan applicants will have until 30 September to submit their requests.

 

The loan offers will come with up to 7 years of repayments, with up to 2 years of interest-only payments. The government will recompense the GSB at the rate of 2% per year for 2 years, for up to 200 million baht.

 

Eligible clients must be an operator of hotels or businesses in the related supply chain in the Small and Medium Enterprise (SME) category. Loan applicants must be Thai citizens or Thai-registered corporations with more than 50% shares owned by Thai nationals.

 

-- © Copyright NNT 2022-07-28

 

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[Laughing Gravy]

Why would they need it as 10 million visitors are coming this year alone.

[Tropicalevo]

Hotels have been closed, thanks to government policies.

Loans have to be repaid.

Hotels need subsidies for refurb, recruit and re-open.

[RichardColeman]

7 hours ago, Tropicalevo said:

Hotels have been closed, thanks to government policies.

Loans have to be repaid.

Hotels need subsidies for refurb, recruit and re-open.

Yes, I suppose it is like punching someone in the face a dozen times and then offering them a steak for the bruising at half price