Gwangju Bank Signs 'Special Guarantee Agreement for Small Business Owners' with Gwangsan-gu, Gwangju

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Bank (President Song Jong-wook) announced on the 15th that it signed the ‘2021 Gwangsan-gu Small Business Special Guarantee Agreement’ with Gwangsan-gu, Gwangju Metropolitan City, and Gwangju Credit Guarantee Foundation.

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 support a total of 1.2 billion KRW in ‘Gwangsan-gu Small Business Special Guarantee Loans.’

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, and the loan period is up to 5 years.

The loan interest rate is specially discounted by up to 0.3 percentage points (p), and Gwangsan-gu Office will compensate 2% interest difference for one year after the loan is issued.

Choi Young, Vice President of Gwangju Bank, said, “We hope to support local small business owners who are experiencing management difficulties due to the prolonged COVID-19 pandemic and thereby revitalize the local economy,” and added, “As a representative bank of Gwangju and Jeonnam, we will continue to prepare various financial support measures for local residents and achieve mutual development with the region.”

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