GSB extends loans worth B1.5bn to small enterprises

Government Savings Bank (GSB) extended loans worth around 1.5 billion baht during the last three months to small businesses suffering from the impact of the Covid-19 pandemic, says bank president Vitai Ratanakorn.

A loan programme totalling 5 billion baht was launched in late December last year, in line with the government’s policy that GSB create jobs to alleviate the impact of the pandemic and revive the sagging economy.

Mr Vitai said during the last three months the bank extended 1.44 billion baht to 30,000 borrowers, consisting of those who want money to start businesses, small businesses, wholesale and retail businesses, taxi drivers, online traders and franchise businesses.

The programme provides loans of 50,000-300,000 baht with an interest rate of 3.99% per year throughout the loan term. The repayment period is up to five years with a grace period of six…