Dang Tuan Anh, CEO of taxi firm Thanh Loi Group, said: “Every time there is an outbreak, I request banks to reduce interests on existing loans. But they only say they will consider.”
With over 600 vehicles operating in Hanoi and two neighboring provinces, the 20-year old company has been struggling amid the latest Covid wave with revenues plunging by 80 percent.
Bank debts, however, remain unchanged. Anh has been borrowing from friends and relatives, selling his own assets and borrowing from loan sharks to repay banks in time.
One bank offered a four-month debt extension, but he declined because the interest for those four months still had to be paid over the subsequent eight months, which could have become a bigger burden for the compa…
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