KTB to provide $294M in support of stimulus plan

Krung Thai Bank has prepared US$294 million for loans to entrepreneurs wanting to start new businesses. This accommodates the Thai government's Strong Thailand Stimulus Plan 2012, which aims to create  new businesses and boost liquidity.

The bank will lend as high as three times the collaterals, requiring the guarantee of the Small Business Credit Guarantee Corporation for an unsecured portion of the loan, with maximum bail-out guarantee limit of not more than 20 million baht or US$588,754 for each customer.

Mr. Wanchai Thanittiraporn, Senior Executive Vice president, Managing Director, Business Center group, Krung Thai Bank PCL., disclosed that the Bank has set guidelines for supporting entrepreneurs  covering the full range of the business supply of their capital funds in support of the Strong Thailand Stimulus Plan 2012, a government economic recovery plan phrase. The Bank will provide loans in form of pre-finance for entrepreneurs' business start-up or new investment and post-finance to boost liquidity after investing and awaiting returns by preparing in place a credit line of 10.0 billion baht or US$294 million.

"The Bank has given relaxation on collaterals by providing loans as much as three times the collaterals and requiring the Small Business Credit Guarantee Corporation's guarantee for unsecured portion at the maximum of 20 million baht (US$588,754). This will help prepare capital funds for entrepreneurs, such as building contractors and trading partner of the government under the Strong Thailand Stimulus Plan that will help stimulate the economy, increase employment and boost long-term competitiveness of entrepreneurs," said Thanittiraporn.

He added that the Bank will support logistic investment projects for building contractors employed by the government and entrepreneurs involved in developing or planning logistic systems of water resources or agricultural projects.

The Bank will make loans to public and private sector contractors who construct dams, weirs, reservoirs, irrigation system, waterworks and seasonal economic crops as well as loans for construction of school buildings, dorms, classrooms labs and operating room in the public educational institutions for R&D and new innovation investment.

Moreover, the Bank will provide loans for building infirmaries, laboratories, and operating rooms and financial support for buying medical apparatus, medicines and medical supplies. Besides, it is offering loans to travel business entrepreneurs to enhance their business funds as working expenses to reduce energy saving cost and cutting in buildings and hotels including funds as working expenses to reduce layoff. Interested clients can contact any of the bank's 63 business centers, located nationwide.