Daegu Bank Provides 100 Billion KRW Financial Support to Companies Affected by Heavy Rainfall

[Asia Economy Reporter Kim Min-young] DGB Daegu Bank announced on the 13th that it will provide financial support exceeding 100 billion KRW to small and medium-sized enterprises (SMEs), mid-sized companies, and small business owners suffering from flood damage caused by prolonged heavy rain.

This support, targeting damaged companies that have received a 'Disaster Damage Confirmation Certificate' from local governments, aims to help early normalization and recovery of affected companies and small business owners by providing new funds through an emergency special loan program worth 100 billion KRW and offering repayment deferrals of up to six months on existing Daegu Bank loans.

The special loan offers up to 500 million KRW per company, with the possibility of higher amounts if approved by headquarters. The loan period supports lump-sum repayment within one year or installment repayment within up to five years.

Depending on credit ratings, preferential interest rates of up to 1.50 percentage points are applied, and loan processing procedures have been simplified by omitting working capital limit calculations and relaxing credit evaluations to enable swift fund support.

Additionally, companies and self-employed individuals who have principal repayments due within one month or are currently repaying in installments and have confirmed disaster damage may apply for repayment deferral for up to six months.

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