Bangkok: SME D Bank has announced urgent measures to assist small and medium enterprises (SMEs) affected by Typhoons Kajiki and Nong Fa. The measures include a suspension of principal and interest payments for up to 12 months and an emergency fund aimed at facilitating business repairs and rehabilitation.
According to Thai News Agency, Mr. Pichit Mitrawong, Managing Director of the Small and Medium Enterprise Development Bank of Thailand (SME D Bank), disclosed the impact of tropical storms Kajiki and Nong Fa on several provinces. The storms have led to heavy rains and flash floods, severely disrupting business operations and causing both direct and indirect damage to SME operators. In response, the bank has rolled out urgent assistance measures targeting SME operators in the disaster-hit regions, as identified by the Department of Disaster Prevention and Mitigation. Affected areas include Lamphun, Phetchabun, Phitsanulok, Nakhon Phanom, Kalasin, Nong Bua Lamphu, Khon Kaen, Phuket, Ranong, Chumphon, and other provinces that may be reported in the future. These measures are designed to alleviate financial burdens and support businesses in resuming operations promptly. Measures include a “principal and interest repayment suspension” for affected bank customers in designated disaster areas, with term loans extend
ed for up to 12 months and promissory note repayment periods extended up to 180 days.
The bank’s “Emergency Funding for Business Rehabilitation” initiative offers emergency loans to existing customers directly impacted by disasters in specified zones. This measure provides funding for immediate business recovery, with loans amounting to 10% of the original loan, ranging from a minimum of 30,000 baht to a maximum of 200,000 baht. The interest rate is set at the minimum lending rate (MLR) per annum, with a 3-year loan term and a 12-month grace period for principal repayment. No collateral is required, fees are waived, and the document submission process is simplified to expedite assistance.
Furthermore, SME D Bank is providing additional capital-boosting loans to enhance business liquidity and investment post-flood. These loans feature a special interest rate of 3% per annum, fixed for the first three years, with a maximum repayment period of 10 years and a 12-month grace period for principal repayment. The maximum loan amount available is 15 million baht. The loan options include “SME Green Productivity” Loan, “SME Empowerment” Loan, and “Beyond SME Wings” Loan.