Busan Bank Provides Financial Support to Customers Affected by Heavy Rainfall
[Asia Economy Reporter Kim Min-young] BNK Busan Bank announced on the 12th that it will provide 'emergency financial support' to small and medium-sized enterprises (SMEs) and individuals in areas affected by heavy rains and typhoons.
For affected SMEs, the bank will offer emergency business stabilization loans of up to 500 million KRW per company until the end of October, and for individuals, it will newly provide living stabilization loans of up to 50 million KRW.
Additionally, when issuing new loans, the bank will apply an interest rate reduction of up to 1.0 percentage point to ease the financial burden on affected SMEs and individuals.
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Loans with repayment deadlines due by the end of this year will be extended in full without principal repayment, and installment payments for facility loans will also be deferred.
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