IBK-중소기업중앙회, Non-face-to-face Financial Support Agreement for Small Business Owners
IBK's First Non-Face-to-Face Win-Win Growth Cooperation Loan... Maximum Limit 50 Million Won, Low-Interest Financial Support
[Asia Economy Reporter Park Sun-mi] IBK Industrial Bank of Korea announced on the 3rd that it has signed a "Non-face-to-face Financial Support Agreement for Small Businesses and Small Merchants to Overcome the COVID-19 Crisis" with the Korea Federation of Small and Medium Business (Kbiz).
Under this agreement, IBK will support a win-win growth cooperative loan worth 100 billion KRW, funded by 50 billion KRW deposited by Kbiz. Notably, IBK has introduced a non-face-to-face method for the first time in its win-win growth cooperative loan product, allowing customers who find it difficult to visit branches to receive loans quickly and conveniently. Applications can be made through IBK's internet banking or the i-ONE Bank corporate application (app).
The loan targets are small businesses and small merchants enrolled in the Small Business and Small Merchant Mutual Aid (formerly Yellow Umbrella Mutual Aid) who have been affected by COVID-19. Customers who received the Kbiz win-win growth cooperative loan last year are excluded from eligibility. The maximum loan limit is 50 million KRW for non-face-to-face applications and 100 million KRW for face-to-face applications. IBK automatically reduces the loan interest rate by 0.4 percentage points. Due to the nature of the non-face-to-face method, borrowers can benefit from an interest rate reduction effect of up to 1.25 percentage points (including the automatic reduction).
Hot Picks Today
If You’re Worried About Market Swings: "Steady Cash Flow Even Amid Volatility" - Experts Recommend These ETFs
- No Bacteria Detected in Arisu After 24 Hours of Repeated Drinking from a Tumbler
- "We Can't Just Let Them Be Damaged Inside"... Samsung Electronics Removes 360,000 Wafers in Preparation for Strike
- OpenAI Considers Legal Action Against Apple: "ChatGPT Integration Falls Short of Expectations"
- "He's Handsome, It's Such a Pity?"... Lawyer Responds to Bizarre 'Appearance Evaluation' of High School Girl Murder Suspect
An IBK official stated, "Non-face-to-face loans offer lower interest rates, while face-to-face loans have higher loan limits, allowing customers to choose the most advantageous method according to their funding needs," and added, "We hope this will help small businesses and small merchants struggling due to the spread of COVID-19."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
