JB Financial Group, 800 Billion KRW Special Support for SMEs and Small Business Owners
[Asia Economy Reporter Kim Min-young] JB Financial Group is launching a special Chuseok fund support worth 800 billion KRW for small and medium-sized enterprises (SMEs) and small business owners.
JB Financial Group's Jeonbuk Bank announced on the 28th that it will provide a total of 300 billion KRW in special funds, including 150 billion KRW in new funds and 150 billion KRW in maturity extensions, until the 23rd of next month. Gwangju Bank will provide a total of 500 billion KRW in special funds, including 300 billion KRW in new funds and 200 billion KRW in maturity extensions, until November 6.
The Chuseok special fund support was prepared to alleviate financial difficulties faced by local SMEs and small business owners struggling due to the spread of the novel coronavirus infection (COVID-19). The support targets SMEs and small business owners located in the province and at the respective bank branches, and preferential interest rates can be provided depending on transaction contribution and credit rating.
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A JB Financial Group official said, "We expect this Chuseok special fund support to contribute to revitalizing the local economy, and we plan to continuously provide such management stabilization funds in the future."
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