Several Thai tourism operators have used their land as collateral for the Government Savings Bank’s (GSB) loan programme.
Approved on Monday, the programme is designed to provide low-interest loans for tourism-related businesses and those designated as supply chains of the tourism sector.
Of the 10-billion-baht credit line for the loan programme, businesses requested a combined sum of 5 billion yesterday, the first day for applications, said Vitai Ratanakorn, president and chief executive of GSB.
This reflects considerable demand for loans among tourism business operators to beef up their financial liquidity, said Mr Vitai.
Land can be used as collateral to obtain loans and the GSB will not assess loan approval based on businesses’ cash flow, as tourism businesses have bore the brunt of the pandemic crisis.
The GSB is scrutinising loan applications to see whether…
