After the last time we talked about the advantages of being an SME and financial measures that support SMEs, I must say that there are still many other interesting financial measures. Today, M Creation would like to summarize the policies of various banks that help SMEs to tell you. Let’s take a look!
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SME D Bank issues urgent measures to help SME entrepreneurs
Urgent measures have been issued to help SME entrepreneurs in the South who are currently experiencing flooding problems. The bank has issued measures to suspend principal and interest payments for a period of no more than 6 months, and there is also a contract for withdrawing revolving funds in the form of a promissory note (P/N).
By helping by suspending interest payments for no more than 6 months, the bank also issued an emergency loan measure for business rehabilitation to allow bank customers who have been damaged to use the money to restore and circulate in their business. The maximum loan period is no more than 5 years, with a grace period of no more than 1 year, and an interest rate of 4.99 percent per year throughout the contract.
EXIM BANK
For SMEs and exporters, we recommend credit measures. There are low-interest loans with high credit limits. Entrepreneurs who have just started an export business can borrow up to 1 million baht per person with a low interest rate of only 2 percent per year (for the first 3 months). After that, it is in accordance with the conditions set by the bank, with only a personal guarantor required.
And another measure will be the EXIM BANK Export Insurance Policy by providing a special privilege for data analysis up to 3,000 baht per case. It is a free service! Data analysis fee for 1 case per policy for the first 100 entrepreneurs who apply for the service (only for new insured persons)
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savings bank
Soft loan by Government Savings Bank will provide loans to financial institutions at a rate of 0.01 percent per year and financial institutions will provide loans to SMEs not exceeding 20 million baht per person at an interest rate of 2 percent per year for a period of 2 years. For general SMEs, loans will be provided in the amount of 10 billion baht.
In addition, the Government Savings Bank also has measures to help the tourism business. It is a loan to restore Thai tourism, providing a credit line of 5 billion baht. The Government Savings Bank provides loans to small entrepreneurs in the tourism and supply chain businesses, not exceeding 500,000 baht per person, with an interest rate of 3.99 percent per year, a loan period of 5 years, and a 1-year grace period for principal repayment.
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Krung Thai Bank
Business loan measures for business customers with a credit line not exceeding 500 million baht, in which the bank will support new loans (Soft Loan) by providing a maximum credit line not exceeding 20% of the outstanding debt as of December 31, 2019, and a maximum loan period of 5 years, an interest rate of 2% per year for the first 2 years, a maximum principal payment suspension of 12 months, and no interest payment for the first 6 months.
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