KB Kookmin Bank Increases Small Business Second Support Loan Limit to 200 Billion Won

Loan Support with Preferential Interest Rate of 2.8% Fixed for 5 Years

[Asia Economy Reporter Park Sun-mi] KB Kookmin Bank announced on the 15th that it will increase the preferential interest rate limit for the second financial support loan for small business owners (entrusted guarantee) from the existing 100 billion KRW to 200 billion KRW. This increase was implemented to replenish the initially set limit and to expand support for damages caused by the novel coronavirus infection (COVID-19).

The second financial support loan for small business owners is a product that provides emergency operating funds to individual business owners based on a guarantee from the Korea Credit Guarantee Fund, with ▲ a loan limit of up to 20 million KRW ▲ a loan period of 5 years ▲ and a fixed interest rate of 2.8% per annum.

Loan applications are accepted non-face-to-face through corporate internet banking and KB Star Banking to prevent the spread of COVID-19 through 'social distancing' and to provide customer convenience. However, elderly applicants or joint business owners can also apply through KB Kookmin Bank branches.

A KB Kookmin Bank official said, “Through this interest rate reduction, we hope to provide even a little help to small business owners struggling due to the resurgence of COVID-19,” and added, “We hope that affected businesses will return to normal as soon as possible.”

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