Tsunami loans being repaid
The Small and Medium Enterprise Development Bank reported that the speedy recovery of the tourism industry in tsunami-affected areas has enabled more than 500 business operators to repay special loans on time.
SME Bank's acting president Chongchet Boonkerd said yesterday that of the 525 operators that borrowed a combined Bt19 million from the SME Bank, 31 had repaid all their debt - a total of Bt10 million - in one year. At the same time, 150 enterprises have paid back some part of their loans and 344 enterprises have made interest payments on schedule.The bank extended loans of less than Bt500,000 with a repayment period of three years and a 2 per cent interest rate. Chongchet said borrowers could repay the loans and interest largely because of the rapid recovery of the tourism industry in areas once ravaged by the tsumani that struck December 26, 2004. "None of the borrowings have resulted in non-performing-loans," said Chongchet. - The Nation
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