Thailand
Concerns about escalating costs of production and living from rising fuel costs has stimulated the release of a new loan package by the Small and Medium Enterprise Development Bank of Thailand. Bank president Pongsak Chewcharat said that his bank had launched hire-purchase loans for transportation and logistics businesses that plan to buy new vehicles propelled by natural gas for vehicles (NGV). These include buses, mini buses, vans, pickup trucks or passenger cars for the car-rental business.
According to the report in The Nation, loans can go up to $3 million and the interest rate will vary from 4
per cent to 4.25-5 per cent depending on the borrower’s
creditworthiness. The SME Bank loans will cover up to 90 per cent of
the vehicle’s price and offer a seven-year term.
This scheme does not apply to engine retrofits for used vehicles.
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