BBL offers help to hard-hit SMEs

Corporate June 18, 2014 00:00

By The Nation

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Businesses recovering from months of political mayhem can get loan relief, advice

Bangkok Bank is helping small and medium-sized enterprises recover from the recent political protests by offering financial advice, new loans, credit-line extensions, easier debt-repayment conditions and interest-rate relief. 
Special attention will be paid to the tourism, hotel, retail and service industries.
Virasak Suthanthavibul, a senior executive vice president, said yesterday that the special measures were targeted at SMEs located at the sites of the protest rallies that plagued Bangkok from October to May. 
Many of these customers are making less money and some face a liquidity crunch, making debt repayment difficult.
The exact package will depend on each individual case and the severity of the impact on the customer.
Extending more credit can take the form of a new loan, renewal of an existing working-capital line, or a new term loan with a special interest rate.
Better conditions will involve amendment of the terms of existing loans, such as lowering the minimum principal payment, extending the repayment period for up to 12 months, or granting a grace period of up to six months for repayment of principal.
The bank’s executives, managers and relationship officers will provide advice about loans.
Customers can ask for advice and apply for any of these forms of assistance any time until December 30.
During the political protests, the bank’s executives, managers and relationship officers took care of each customer as deemed appropriate and monitored the situation, particularly with regard to SMEs, Virasak said. The bank provided advice and urgent support measures while refraining from reporting customers to the Credit Bureau, which would have hurt their credit standing.
Targeted customers who would like more information about the programme can contact managers or relationship officers at the nearest business centre in the bank’s nationwide network, he said.