The state-owned Small and Medium Enterprise Development Bank of Thailand (SME Bank) yesterday unveiled financial assistance measures for victims of natural disasters.
Under the measures, the bank's customers affected by national disasters such as floods and mudslides are entitled to up to a six-month deferment for both principal and interest on term loans and a maximum of six months' deferred interest on promissory notes.
Furthermore, the bank's existing customers affected by natural disasters can seek a five-year emergency loan with a one-year grace period and interest of 4.99% throughout the loan term.
SME Bank has readied two loan schemes for business expansion following the national disasters.
The first offers loans to individuals and companies engaging in processed agricultural products and community-based tourism, new entrepreneurs, and manufacturers that use innovation.
The second offers loans to those signed up as juristic persons.
Both types have a seven-year term. The first scheme will charged 3% interest for the first three years, and the second will offer a three-year grace period during which principal payments are not required.
