Exim Thailand Upgrades Target for New Loans in 2021

[webfact]

   

BANGKOK (NNT) - The Export-Import Bank of Thailand (Exim Thailand) has upgraded its target for new loans this year to 145 billion baht, from 138 billion, even with the economy suffering under the pandemic.

 

President Rak Vorrakitpokatorn said Exim Thailand plans to design loan packages to fit the specific demands of small and medium-sized enterprises (SMEs), as well as to relax loan conditions to help clients gain easier access to loans.

 

He said the bank wants to change the current conditions, requiring SMEs to not have negative owners’ equity for the past three years from the date of the application, and the business must be operating and generating revenue. One current condition for eligible SMEs is posting positive financial performance and profit for three consecutive years from the date of the application.

 

The bank launched two relief schemes, in response to the additional financial measures rolled out by the Bank of Thailand to assist entrepreneurs affected by the pandemic. The first is the credit rehabilitation scheme, and the other is the asset warehousing scheme.

 

Exim Thailand will accept the transfer of collateral assets, from its existing debtors affected by the pandemic, for debt payment to the bank. The goal is to reduce operators’ financing costs.

 

-- © Copyright NNT 2021-05-11

 

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[RichardColeman]

5 minutes ago, webfact said:

Exim Thailand will accept the transfer of collateral assets, from its existing debtors affected by the pandemic, for debt payment to the bank.

Sounds like someone is about to become a renter

[CrunchWrapSupreme]

Even out here in the Issan sticks, when driving into the capital the other day, we saw no less than six shiny new, red plated cars. Big Toyota Hiluxs, Ford Rangers, Honda Citys, Chinese MGs. I suppose given the lack of other business, the banks sure are being loose and fast firing out those 96 month, high interest car loans.

[Sharp]

5 hours ago, RichardColeman said:

Sounds like someone is about to become a renter

Agreed.. Edit.. An owner is about to become a renter!