Gwangjin-gu, Kookmin, Shinhan, Hana Banks, and Seoul Credit Guarantee Foundation Collaborate to Support Small Businesses
On the 28th, Gwangjin-gu, Kookmin, Shinhan, Hana Banks, and Seoul Credit Guarantee Foundation Hold Business Agreement Ceremony... Special Guarantee up to 20 Million Won for Small Business Owners, 1-Year Interest-Free Support Agreement
[Asia Economy Reporter Jong-il Park] Gwangjin-gu (District Mayor Kim Seon-gap) has joined forces with commercial banks and the Seoul Credit Guarantee Foundation to support small business owners severely affected by the prolonged COVID-19 pandemic.
On the 28th, the district signed the 'Gwangjin-gu Small Business Special Guarantee and Interest Support Business Agreement' with KB Kookmin Bank, Shinhan Bank, Hana Bank, and the Seoul Credit Guarantee Foundation, pledging mutual cooperation for special guarantees for small business owners.
Through this agreement, the district and the banks will establish a loan fund of 20 billion KRW with the Seoul Credit Guarantee Foundation to provide interest-free loans of up to 20 million KRW for one year to local small business owners.
This special interest-free guarantee for small business owners is part of the city-district cooperative crisis recovery disaster relief fund, designed to support credit guarantees for small business owners in urgent need of funds, lowering the loan barriers.
In particular, this special guarantee is available to any small business owner who has operated their business for more than six months, even if they lack collateral.
Small business owners wishing to apply for loans can inquire at any branch of Kookmin Bank, Hana Bank, or Shinhan Bank within Gwangjin-gu.
District Mayor Kim Seon-gap said, “The interest-free and no-guarantee fee loan support for small business owners, which our district proactively implemented since last year, has become a model case and is being expanded citywide in Seoul. I hope this will be a great help to small business owners struggling due to COVID-19.”
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He added, “I would like to express my gratitude to KB Kookmin Bank and Hana Bank, who have joined again this year following last year, as well as Shinhan Bank, who have joined forces to support local small business owners.”
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