Gwangju Bank Signs Special Guarantee Business Agreement for Small Business Owners with Gwangju Dong-gu Office
[Asia Economy Reporter Kim Hyo-jin] Gwangju Bank announced on the 1st that it signed a 'Special Guarantee Agreement for Small Business Owners' with Dong-gu Office of Gwangju Metropolitan City and Gwangju Credit Guarantee Foundation on the 29th at Dong-gu Office to respond to the prolonged economic downturn caused by COVID-19.
Through this agreement, Gwangju Bank separately contributed 50 million KRW to support small business owners in Dong-gu, Gwangju, in overcoming the COVID-19 crisis, and decided to provide a total of 1.2 billion KRW in 'Dong-gu Small Business Special Guarantee Loans.'
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The special guarantee loan supports small business owners operating in Dong-gu, Gwangju, with up to 30 million KRW per business, and the loan period is up to 5 years. The loan interest rate is specially discounted by up to 0.3 percentage points, and for 2 years after the loan is issued, Dong-gu Office will compensate the interest difference of 2.5%.
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