SME bank to increase loan limits to help business owner cope with floods

0
187

BANGKOK, 25 September 2011 -The Managing Director of the SME Bank, Mr. Soros Sakornwisawa will be proposing to the Cabinet to increase the loan limits to help business owners affected by floods cope with the aftermath.

Mr. Soros said the current limits of 2 billion THB was insufficient as many provinces still suffered from heavy flooding while only a few were recovering. He added, however, that SME owners must have their businesses in the flood affected areas in order to be qualified for a maximum of 1 million THB loan. The loan will exclude the principal during the first two years with a period of 6 years repayment and an interest rate of 6% per annum.