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The government gave the Bank a green light to expand the Extra Cash loan criteria, open to individuals and juristic persons, expecting more than 5 thousand SMEs to reach funding sources.

The government gave the Bank a green light to expand the loan criteria “Extra Cash”.
Open to ‘natural persons – juristic persons’, expecting more than 5 thousand SMEs to reach funding sources.

Government green light commercial banks expand target groups Helping SMEs affected by COVID-19 Both direct and indirect Under the scheme “Extra Cash small loans” open to natural persons Juristic person having access to capital The maximum loan amount is 3 million baht per person. The interest rate is charged 3% per annum in the first 2 years, no collateral required. Expected to bring SMEs to access capital at least 5,000

Ms. Nart Naree Rattapat Managing Director Small and Medium Enterprise Development Bank of Thailand (SME) or SME D Bank revealed that the Bank of Thailand as a state-owned financial institution. Implemented the Cabinet Resolution (Cabinet) on 18 August 2020 that agreed to improve and expand target groups of credit projects to assist small entrepreneurs affected by the coronavirus or COVID-19 outbreak through the project. “Extra Cash Small Loan” with a credit limit of 9,600 million baht to allow lending to SMEs entrepreneurs, both natural persons and juristic persons covering all business groups affected by COVID-19. Both direct and indirect

For small loans, Extra Cash revised the rules. Set loan properties For natural person Or legal entity In the manufacturing sector with employment of no more than 50 people or income of not more than 100 million baht per year, the trade and service sectors. With employment of not more than 30 people or income of not more than 50 million baht per year in order to be used to supplement liquidity And / or as a business expense It has the advantage of low interest rate. Group of natural persons The interest rate is 3% per annum for the first 2 years, and the 3rd – 5th year, the interest rate is MLR + 2% per annum, the maximum loan amount is 1 million baht (VAT registered individuals up to 3 million baht). The interest rate is 3% per annum in the first 2 years. For the 3-5 years, the interest rate is MLR + 1% per annum. The maximum loan amount is 3 million baht. When combined with all types of loans with banks, it must not exceed 15 million baht, installments for up to 5 years, grace period, up to 12 months and more importantly, no collateral required. The loan application will be accepted from now on until December 30, 2020 or until the project limit expires. Whichever comes first

“The COVID-19 situation This severely affected the business operations of Thai SME entrepreneurs. Causing almost all businesses to stumble Or some to the point of interruption The government therefore approved the Bank of Thailand to expand the target group of aid to cover all SMEs. Especially in the tourism business Giving access to low-interest funding sources to have working capital. Help to enhance liquidity Helping to get through this difficult time Expect to bring SMEs to access to at least 5,000 funding sources, ”said Ms. Nartnari.

This is to provide SME entrepreneurs with easy and broad access to Extra Cash loans, SMEs in collaboration with partner agencies. Both public and private sectors Organizing activities to market areas across the country To provide services for taking SMEs to access capital easily, quickly, completely, all in one place, in the form of One Stop service, if the documents are ready for approval in 15 days.

For SME entrepreneurs interested in using Extra Cash small loans, they can request via various channels such as LINE Official Account: SME Development Bank, the Bank’s website (www.smebank.co. th) and through the application “SME D Bank” can be downloaded for both IOS and Android systems, etc., including all Bank branches nationwide. For more information, please contact Call Center 1357.

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