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Moratorium Borrowers Need a Break

Subject: Vertical view of a rubber stamper with the words “LOAN DENIED” resting on a pile of mortgage loan papers, including a borrower’s signature page stamped in red, showing approval was denied. Long shadows cast an ominous, negative mood on the scene.

Some 30% of borrowers entering the debt moratorium scheme are not expected to be able to service their debts at the same rate, says the Small and Medium Enterprise Development Bank of Thailand (SME D Bank).

The bank has implemented measures to help borrowers reduce their financial burden in line with the Bank of Thailand’s debt relief programme. These include deferring principal and interest payment for up to six months for every borrower who has a credit line of no more than 100 million baht and who doesn’t have an overdue loan of more than 90 days as of Dec 31, 2019, said Nartnaree Rathapat, SME D Bank’s president.

There are 43,215 borrowers in this category, accounting for loans worth 66.5 billion baht. Read more…..

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