Thai Bankers Association and member banks Supporting SMEs entrepreneurs to adapt through “Adjustment Credit Measures” under the Royal Decree on Rehabilitation Enhancing the competitiveness of entrepreneurs, accepting the 3 megatrends of the new world business: digital technology, environmentally friendly business and innovations of the future world” to drive sustainable business growth
Mr. Payong Srivanich, president of the Thai Bankers’ Association, said that although the Thai economy tends to recover continuously. After the COVID-19 situation resolved, the prolonged spread of COVID-19 was a factor accelerating the creation of a new world context (New Normal) that affected consumer behavior and business direction changes. Bank of Thailand (BOT) and Thai Bankers’ Association Recognize the importance of adaptation during economic transitions. to receive with future business direction Therefore, it has cooperated with government agencies and the private sector in issuing “Adjustment Credit” measures on top of rehabilitation loans under the Decree on Assistance and Rehabilitation of Entrepreneurs Affected by the Outbreak. of the Coronavirus Disease 2019, 2021 (Rehabilitation Decree) to support SMEs entrepreneurs to access low-interest funding sources. for improvement investment Develop and enhance business potential in line with the New Normal in 3 ways: 1. Digital technology trend (Digital) 2. Environmentally friendly business operations (Green) 3. Innovation of the future world (Innovation), which is a megatrend world business
“Adjustment Credit” measures It is a good choice for SMEs entrepreneurs to invest in building competitiveness. During the gradual economic recovery and the interest rate direction is in an upward trend, the BOT has adjusted the criteria for extending the loan amount up to 150 million baht under the condition that the first 2-year interest rate is not more than 2% per year and the average 5-year period is not more than 5% per year
More flexible guarantee terms To facilitate access to credit and promote investment to improve the competitiveness of Thai SMEs for SMEs that do not wish to borrow for new investment. Able to request liquidity support for general circulation Through rehabilitation credit measures that can still be carried out in parallel
The Thai Bankers Association and member banks are ready to support credit measures for full adjustment. Currently, there are 16 financial institutions that have prepared adaptation loan products. Businesses wishing to apply for adaptation loans can contact financial institutions directly. A list of financial institutions and more details can be found on the BOT’s website at Credit Measures for Adjustment under the Royal Decree on Rehabilitation (bot.or.th).
President of the Thai Bankers’ Association said that since the outbreak of COVID-19 The Thai Bankers’ Association has coordinated with the BOT and related agencies from both the public and private sectors. Provide assistance to SMEs who are affected continuously. Both soft loan measures to help heal entrepreneurs in the short term. which can help up to 77,000 SMEs with a total amount of 140 billion baht; rehabilitation credit measures Provide assistance to 5.9 ten thousand people, representing a credit approval amount of over 210 billion baht. Provide assistance to 413 cases, with a value of approximately 58 billion baht in assets transferred. There are also sustainable debt relief measures. To help customers solve debt problems on the spot, timely and sustainably, is an important part in driving the Thai economy through the crisis. are ready to return to grow sustainably