[Photo] 200401 Small Business Bank Loan 06.jpg

A bank loan product was launched on the 1st for small business owners affected by the spread of the novel coronavirus (COVID-19). On the 31st, the Financial Services Commission and the Korea Federation of Banks announced that they would accept applications for a fixed interest rate credit loan of 1.5% per annum with a one-year maturity from tomorrow until the end of 2020. The loan limit is up to 30 million KRW. This product targets small business owners with annual sales of 500 million KRW or less who have a high credit rating. The borrower's credit rating must correspond to levels 1 to 3 to qualify for the loan. The photo shows a counter at a commercial bank in Seoul on the day./Reporter Kim Hyun-min kimhyun81@

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