KTB loans businesses ฿2 billion to promote employment

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BANGKOK, 25 June 2012  – Krungthai Bank (KTB) is loaning 2 billion baht to registered corporations on a low-interest rate with 3-year installment in order to help promote employment. 

Mrs. Sriprapa Pringpong, Senior Vice President of KTB, stated that the bank and the Social Security Office (SSO) are supporting the loan program with a 2-billion-baht budget, hoping to increase the capability of registered corporations to employ more labors and pay higher salary.

Under the program, the companies are eligible for low-interest loans with 3 years of installment. In case of loaning with collateral, the interest rate is set at 3 percent per year, and for loaning with a guarantor, the interest rate is 5 percent per year, on the condition that the loan must not be used to reimburse existing debt.

Companies wishing to receive a loan are required to have been contributing to the Social Security Fund for at least 3 consecutive months while maintaining an employment status of 80 percent or more of all insured employees.

Corporations with less than 50 employees are entitled to a loan worth 1 million baht or less. Corporations with 51-200 employees can receive 2 million baht or less, while those with more than 200 employees can be loaned 4 million baht or less.

The loan is provided from now through December 31. Applications are accepted at all KTB branches.