Open the draft amendment of the Softloan Act, the edition of “KMUTT Council” to increase the accessibility of people – extend the loan repayment period.

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Km. 3, Civil Service Commission, Loan Signed to send a letter to the “Prime Minister” to issue the Royal Decree to amend the Act Softloan found the amendment of 5 articles to increase the access rights – Extend the loan repayment period – The new borrower limit

Mr. Paiboon Nititawan, S.O. People’s Power Party As Chairman of the Commission (Km.) Extraordinary to consider and monitor the use of money under the Royal Decree (Royal Decree) 3 issues to solve problems. Heal and restore the economy and society Affected by the coronavirus 2019 (COVID-19) outbreak, the House of Representatives Revealed that he had signed the most urgent letter Gen. Prayut Chan-o-cha, Minister of Defense, and Minister of Defense propose to the Cabinet (Cabinet) enact the Royal Decree to amend. Criminal Code, Financial Assistance to Enterprises Affected by the COVID-19 Outbreak, B.E. As agreed by KMUT and there are related departments which are Bank of Thailand, Fiscal Policy Office, Office of the Council of State Have a common opinion as well

The reporter reported that on the proposal to amend The Royal SoftLone Act of KMUT has a proposal to amend 5 sections, including amendments to Section 3, the definition of small and medium enterprises. By expanding to cover enterprises that do not have credit facilities with financial institutions Increase from the original set of enterprises with credit with financial institutions Or have a credit limit with each financial institution not exceeding 500 million baht only

Section 7 and Section 10 on filing an application for borrowing from financial institutions to the Bank of Thailand. That does not specify an extension of the loan period From the original limit that can be extended not more than 2 times. In addition, the loan repayment schedule has been revised. From the original set to return within 2 years to 5 years from the date of the loan.

Section 9 Amendment of conditions on repayment of loans with interest of financial institutions Along with setting a ceiling for new entrepreneurs Which has never been a debtor of a bank that does not exceed 20 million baht, with a correction of interest rates on additional credit Not more than 5% per year from the original set of 2% per year

And Article 11 amended the rate of compensation for damage from borrowing of financial institutions The compensation is not more than 80 percent of the damage from each debtor. And stipulated that at the end of 5 years and 6 months that this Decree comes into force Let the Bank of Thailand begin to calculate compensation

In addition, the content also sets the rights for entrepreneurs who have already earned credit according to the original Civil Service Commission. With new enterprise operators According to the revised law Without exceeding the loan limit as specified.

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