Jeonbuk Bank Provides Loan Support to Companies Affected by Heavy Rainfall
[Asia Economy Reporter Minyoung Kim] Jeonbuk Bank announced on the 5th that it will provide financial support worth 50 billion KRW to urgently support liquidity for businesses in Jeonbuk Province affected by heavy rain damage.
The support targets small and medium-sized enterprises and individual business owners who have received damage confirmation certificates from administrative agencies. New funds will be provided up to a maximum of 100 million KRW. Existing loans can also be extended upon maturity, and interest rate reductions of up to 1.0 percentage point per year will be offered.
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Lim Yongtaek, President of Jeonbuk Bank, stated, “We plan to support small and medium-sized enterprises and individual business owners going through difficult times with loan support and interest rate reductions,” adding, “As a regional key bank, Jeonbuk Bank will always stand together to help recover from the heavy rain damage and overcome COVID-19.”
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