Gyeongnam Shinbo Provides 1.05 Trillion Won in Guarantee Support This Year
Focused Supply of Government Special Guarantees for Small Business Owners
Gyeongnam Province Expands Support Policy Funds to 150 Billion Won
[Asia Economy Yeongnam Reporting Headquarters Reporter Son Tae-seok] Gyeongnam Credit Guarantee Foundation (Chairman Gu Cheol-hoe) announced on the 13th that it plans to provide credit guarantees totaling 1.05 trillion KRW to 53,000 companies throughout 2020 to revitalize the economy in the Gyeongnam region.
Gyeongnam Credit Guarantee Foundation plans to focus on supplying government special guarantees and local government low-interest policy funds to reduce the interest burden on small business owners. In addition, it will continuously provide Sunshine Loans and Hope Do Dream special guarantees for financially marginalized groups such as low-credit and low-income individuals who have difficulty securing business funds from first-tier financial institutions.
In particular, the annual scale of small business policy funds supported by Gyeongnam Province with a certain interest rate will be expanded to 150 billion KRW, and the number of handling banks will be significantly increased from the existing two banks, NongHyup and Gyeongnam Bank, to seven banks: NongHyup, Gyeongnam, Kookmin, Shinhan, Woori, Hana, and Busan Bank.
Gyeongnam Credit Guarantee Foundation will expand small business startup education to 500 people and customized consulting to 430 cases, and plans to continuously operate small business collaboration support projects and business settlement support projects for marginal small business owners.
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Furthermore, to establish a customized comprehensive support system for small business owners, it will newly implement the "Small Business Alley Market Vitalization Project" to revitalize neighborhood commercial districts and the "Made in Gyeongnam Support Project" to support the expansion of online sales channels for competitive items.
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