Shinhan Bank Contributes 6.5 Billion KRW to Gyeonggi Credit Guarantee Foundation... Business Agreement for Financial Support to Small Business Owners

Creation of a 100 Billion KRW Loan Limit Available for New Loans to Over 4,000 Companies

[Asia Economy Reporter Haeyoung Kwon] Shinhan Bank announced on the 15th that it has signed a special contribution business agreement with the Gyeonggi Credit Guarantee Foundation to expand financial support for small businesses and small merchants located in Gyeonggi Province.

Through this agreement, Shinhan Bank will contribute 6.5 billion KRW to the Gyeonggi Credit Guarantee Foundation. This has created a loan limit of 100 billion KRW, enabling new loans for approximately 4,000 companies.

Based on the special guarantee from the Gyeonggi Credit Guarantee Foundation, Shinhan Bank will provide special guarantee loans at a low interest rate in the high 1% range per annum to small businesses and small merchants within the Gyeonggi Province area. It will also offer benefits such as reduced guarantee fees and preferential guarantee limits, providing practical support to small merchants facing financial difficulties due to minimum wage increases and other challenges.

A Shinhan Bank official stated, "We are preparing various products and services to become a more reliable partner for small merchants," adding, "We hope this will help revitalize the local economy and stabilize the management of small merchants."

This content was produced with the assistance of AI translation services.