{"id":1914,"date":"2020-05-06T14:31:46","date_gmt":"2020-05-06T07:31:46","guid":{"rendered":"https:\/\/35.197.150.33\/?p=723"},"modified":"2020-05-06T14:31:46","modified_gmt":"2020-05-06T07:31:46","slug":"interest-free-sme-loans-from-kbank","status":"publish","type":"post","link":"https:\/\/plizz.co\/th\/blog\/interest-free-sme-loans-from-kbank\/","title":{"rendered":"Interest-free SME loans from KBank"},"content":{"rendered":"<figure class=\"wp-block-image size-large is-resized\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/35.197.150.33\/wp-content\/uploads\/2020\/05\/3623428-1024x683.jpg\" alt=\"\" class=\"wp-image-724\" width=\"746\" height=\"497\"\/><\/figure>\n\n\n\n<p>MAY 6, 2020<\/p>\n\n\n\n<p>Kasikornbank (KBank) has launched a 1-billion-baht loan scheme, offering interest-free borrowing for the first year to small and medium-sized enterprises (SMEs) with up to 200 employees as a way to keep 41,000 workers on payroll during the pandemic.<\/p>\n\n\n\n<p>The bank will also provide a monthly grant of 8,000 baht for three months to SME employees taking part in the scheme, said chairman emeritus Banthoon Lamsam.<\/p>\n\n\n\n<p>The loans are designated to maintain SME workforces. The scheme waives all fees, requires no collateral and offers a debt moratorium for one year.<\/p>\n\n\n\n<p>The offer is available only to the bank&#8217;s existing customers. The loan amount is determined by the number of workers.<\/p>\n\n\n\n<p>KBank expects about 1,000 SME operators to take advantage of the loans, saving 41,000 employees, Mr Banthoon said.<\/p>\n\n\n\n<p>With the 8,000-baht grant and zero-rate loans for the first year, the bank hopes that small SMEs will have money to keep employees, allowing them to survive amid the hardship, he said.<\/p>\n\n\n\n<p>In mid-April, KBank, the country&#8217;s largest lender by assets and biggest player in the SME loan business, unveiled a low-rate loan scheme requiring SMEs to contribute the same amount as saved interest expense and use the matching amount to pay employees&#8217; wages.<\/p>\n\n\n\n<p>The pilot loan scheme, available in Phuket province, has retained 2,000 employees or almost 70% of the targeted 3,000 staff. In addition, the bank&#8217;s loan scheme has helped borrowers save interest expense of up to 60 million baht.<\/p>\n\n\n\n<p>&#8220;The various financial assistance programmes will lead to higher non-performing loans (NPLs), and the bank needs to set aside additional loan-loss reserves,&#8221; Mr Banthoon said. &#8220;This is acceptable. We&#8217;re in a war, so we need to think in new ways because the existing solutions would be unusable. This is a sustainable measure that will provide benefits in the longer term, even though we&#8217;re feeling the pain now.<\/p>\n\n\n\n<p>&#8220;The banking sector, including KBank, may earn no profits this year, but this is acceptable and will not affect the industry much, given the strong capital base.&#8221;<\/p>\n\n\n\n<p>The Kasikornbank Foundation is providing a 4,000-baht monthly allowance for three months through July to 5,083 healthcare professionals caring for virus-infected patients in 45 state hospitals in the five southernmost provinces (Songkhla, Satun, Yala, Pattani and Narathiwat).<\/p>\n\n\n\n<p>The stipend for medical workers in the five provinces is part of the foundation&#8217;s 300 million baht in grants to 20,000 medical staff nationwide.<\/p>\n\n\n\n<p>The money will be transferred directly to recipients.<\/p>\n\n\n\n<p>&#8220;Doctors and medical staff are on the front line, exposed to risk and working hard amid the outbreak,&#8221; Mr Banthoon said.<\/p>\n\n\n\n<p>Source : <strong><a href=\"https:\/\/www.bangkokpost.com\/business\/1913164\/interest-free-sme-loans-from-kbank\">The Bangkok Post<\/a><\/strong><\/p>","protected":false},"excerpt":{"rendered":"<p>MAY 6, 2020 Kasikornbank (KBank) has launched a 1-billion-baht loan scheme, offering interest-free borrowing for the first year to small and medium-sized enterprises (SMEs) with up to 200 employees as a way to keep 41,000 workers on payroll during the pandemic. The bank will also provide a monthly grant of 8,000 baht for three months [&hellip;]<\/p>\n","protected":false},"author":18,"featured_media":1401,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[14],"tags":[],"class_list":["post-1914","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Interest-free SME loans from KBank<\/title>\n<meta name=\"description\" content=\"Read our article &quot; Interest-free SME loans from KBank &quot;. 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