Gwangju Bank-Naju City Sign Business Agreement for Secondary Interest Subsidy Support Project for Small Business Owners

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Bank (President Song Jong-wook) announced on the 12th that it signed a business agreement for the ‘Small Business Interest Subsidy Support Project’ on the 11th at Naju City Hall, attended by Naju City, Gwangju Bank, and 11 other financial institutions, and will offer related loans.

The loan target is small business owners operating in Naju City, with a total scale of 20 billion KRW.

The limit is up to 50 million KRW per business, the period is 2 years, and Naju City subsidizes 3% interest for 2 years, so customers bear an actual loan interest rate of less than 1%.

After receiving a consultation visit at a Gwangju Bank branch located in Naju City and submitting the guarantee application documents, loans can be obtained through the guarantee screening process at the Jeonnam Credit Guarantee Foundation Naju branch.

Kim Jae-chun, Head of Sales Promotion Department at Gwangju Bank, said, “We will do our best to provide financial consultation and support to timely supply necessary funds to local small business owners facing financial difficulties due to the recent sluggish local economy and the spread of COVID-19.” He added, “We will continue to actively participate in small business support projects of local governments in Jeonnam and Gwangju regions to achieve mutual growth with local residents.”

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