Gwangju Bank Entrusts Credit Guarantee Foundation for 2 Months... 250 Billion Won Funding Support

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Bank (President Song Jong-wook) announced on the 13th that it has provided 250 billion KRW in funding within two months since outsourcing the regional credit guarantee foundation's work to quickly support companies affected by 'COVID-19'.

Due to the surge in consultations with the credit guarantee foundation for management difficulty loans from companies affected by 'COVID-19', which caused delays in guarantee consultations and on-site inspections, Gwangju Bank has directly handled guarantee consultations, document submissions, on-site visits, and guarantee agreements through a business agreement with the regional credit guarantee foundation since March.

Additionally, for the first time nationwide, Gwangju Bank dispatched about 40 employees to the Gwangju Credit Guarantee Foundation's headquarters and branches to support supplementing application documents and early issuance of guarantee certificates during day and night shifts, taking the lead in supporting funds for 'COVID-19' victims.

As a result, customers reduced the inconvenience of having to visit both Gwangju Bank and the credit guarantee foundation alternately to apply for loans, and prompt loan consultations were conducted for small business owners in urgent need.

Separately from the entrusted financial support with the guarantee foundation, Gwangju Bank has independently implemented a special support of a total of 100 billion KRW with a limit of 500 million KRW per company since February for local small and medium-sized enterprises and individual business owners engaged in travel, lodging, and food services affected by 'COVID-19'. As the support limit was exhausted early, the bank increased it by 100 billion KRW in March and by 200 billion KRW last month, expanding support for companies affected by 'COVID-19'.

Song Jong-wook, President of Gwangju Bank, said, "All employees are doing their best to provide timely funds to local small business owners and self-employed people facing management difficulties due to the spread of 'COVID-19'." He added, "As a representative bank of Gwangju and Jeonnam, we will fulfill our corporate social responsibility and take the lead in revitalizing the regional economy through various financial supports."

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