SME Bank increases maximum rate of loan for entrepreneurs

BANGKOK, 26 July 2009 (NNT) – The Small and Medium Enterprises Development Bank of Thailand (SME Bank) has resolved to raise the maximum rate of SME loans to 500 million baht to stimulate investments.

Industry Minister Charnchai Chairungrueng stated that the Small and Medium Enterprises Development Bank of Thailand (SME Bank) Board had increased the maximum rate of loans for SME entrepreneurs in an effort to not only boost investments and give more liquidity to SME operations but also provide more accessibility to financial funds due to the commercial banks’ strict measures on loan extension.

The minister said the earlier maximum rate of loans offered by the SME Bank which was only at 200 million baht had skyrocketed to 500 million baht. He indicated that several groups of entrepreneurs especially those who owned cassava processing and sugar production factories had already seeked such loans.

Meanwhile, Ms. Preeyapan Piyanan, a SME Bank Deputy Manager, assured that the hike of the maximum rate of loans would not affect the Bank’s liquidity while instructing state authorities to increase an additional 2.5-3 billion baht budget for SME Bank.