Cabinet approves extension of soft loan application period to help hotel businesses | Thai PBS News Thai PBS News

Cabinet approves review of “Low interest loan project” criteria Re-opening hotel business and hotel supply chain to increase credit as working capital. ready to extend the loan application period until June 2023

Today (November 22, 2022), the Cabinet meeting approved the improvement of the criteria for the implementation of the Soft Loan Reopening Hotel Business and the related business branches of the hotel. by modifying the criteria and conditions of the project In terms of borrower qualifications Expanding credit objectives loan repayment period and the period for accepting credit applications to be more comprehensive and flexible

1. Lender Qualifications : Reduce restrictions on hotel business operators who are in the process of applying for a hotel business license. to be able to apply for credit Originally having to obtain a license or in the process of applying for a license before December 31, 2020 and reduce the restriction to entrepreneurs who have benefited at least 1 in the last 5 years and are still in business at the moment. can apply for a loan Previously, he had to have a profit in at least 1 of the last 3 years.

This is for high performing entrepreneurs. before the COVID-19 situation Including increased clarity when considering helping entrepreneurs with a good track record of repaying debts. or if you have outstanding debts and a debt reorganization has been completed but are able to pay debts to access more sources of finance Originally, there should be no outstanding debt before the date of submission of an application for the project.

2. Objectives : Expanding objectives to cover the awarding of credit. Being working capital in the business for improving liquidity in business operations. From the first gives credit to improve or repair the business establishment or investment in equipment only

3. Loan repayment period: Divided into 2 cases, namely, in the case of granting credit for the improvement and repair of the institution. and investment in equipment The period of the loan is not more than 7 years and in the case of credit for working capital in the business. The period of the loan is not more than 5 years, from the first, there was only one case, a credit for the improvement and repair of the establishment. and invest in equipment

4. Extend the loan application period until June 30, 2023 or until the total credit limit in the project expires. whichever comes first Originally, the loan application period ended on 30 September 2022.

Other criteria and conditions Including the budget limit Compensation is still in accordance with the project rules. The Cabinet has approved the decision. Cabinet on 26 July 2022

In this regard, the Hotel Business Soft Loan Project The objective is to provide low interest loans to small and medium businesses in the hotel and hotel business supply chain affected by COVID-19. Improve or repair the establishment or invest in equipment such as clothes dryers, air conditioners industrial washing machines, etc., as well as working capital in the business

Government Savings Bank 64 credits have been approved, totaling 124 million baht, or 2.48% of the total of 5,000 million baht (data as of 30 September 2022).

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