Gwangju Bank and Gwangsan-gu Office of Gwangju Sign Business Agreement on 'Special Guarantee for Small Business Owners'
[Asia Economy Reporter Kim Hyo-jin] Gwangju Bank announced on the 15th that it signed the '2021 Gwangsan-gu Small Business Special Guarantee Agreement' with Gwangsan-gu, Gwangju City, and the Gwangju Credit Guarantee Foundation 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 Gwangsan-gu, Gwangju, in overcoming the COVID-19 crisis, and decided to provide a total of 1.2 billion KRW in 'Gwangsan-gu Small Business Special Guarantee Loans.'
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The 'Gwangsan-gu Small Business Special Guarantee Loan' supports small business owners operating in Gwangsan-gu, Gwangju, with up to 20 million KRW per business. The loan period is up to 5 years. The loan interest rate is specially discounted by up to 0.3 percentage points, and for one year after the loan is issued, Gwangsan-gu Office will compensate for a 2% interest difference.
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