National Bank has auspicious time to dismantle the soft lone
Date 29 December 2020 time 06:51
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The Bank of Thailand adjusts soft lone eligibility criteria to increase SMEs opportunities to access loans
Mr. Chaturong Chantharang, Assistant Governor Financial Institutions Supervision 1 Bank of Thailand (BOT) revealed that With the situation of the spread of Coronavirus 2019 (COVID 19) both domestically and internationally still prolonged. As a result, some Thai SME entrepreneurs have insufficient income to sustain their business. Enterprises affected by the COVID-19 (Softlone) outbreak to be flexible and appropriate to the situation. With the following essence
1. Adjust the definition of “Business group” which is one of the criteria for granting credit by separating relationships of natural persons from legal entities. Along with the number of relationships left in one order, it makes it easier for SME operators to access SoftLone loans.
2. Change the practice on the number of loan applications However, SME operators can apply for a soft lone loan no more than 2 times from the originally scheduled to apply for a loan only once. The SME entrepreneurs who still have soft loan loans remaining. Able to return and apply for a loan
The threshold was further eased after it was expanded to accommodate companies with MAI-listed securities and a six-month extension of the loan application period. SME operators can now apply for a soft loan from a financial institution. In which financial institutions must apply for a soft loan for the BOT for approval before 18 April 2021.
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