KBank-BOT offer 40 billion Baht in low-interest loans to flood-hit businesses

KASIKORNBANK and the Bank of Thailand (BOT) are working together in offering 40 billion Baht in soft loans to businesses directly affected by the 2011 floods. The loans, offered in amounts of up to 30 million Baht at three percent interest for up to five years, will both assist in recovery and help drive the national economy.

KBank Executive Vice President Mr. Patchara Samalapa announced that the bank together with the BOT have made 40 billion Baht available through the BOT Soft Loan program for flood victims. The program offers low-interest loans to businesses directly affected by the floods and with operations located in declared disaster zones. This is in accordance with the Ministry of Finance’s regulation on advance payment for disaster victim assistance.

Businesses of juristic and natural persons are eligible to participate in the program. Loans of up to 30 million Baht per borrower are offered at three percent interest for up to five years. After five years, the interest will be adjusted to normal rate. Applications are now being taken until December 31, 2012. For more information, contact the K-BIZ Contact Center at 0 2888 8822.

Mr. Patchara noted that KASIKORNBANKGROUP has previously launched many special programs and services for post-flood business recovery. Examples include K-SME Flood Relief Loans and Kasikorn Factory and Equipment Co., Ltd.’s machinery and workplace restoration loans, as well as the present soft loans offered in conjunction with the BOT. Such products are created and offered to assist Thai businesses return to solid and sustainable operations, thus helping to drive the Thai economy forward.