IBK, 53 Trillion KRW Loan Support for SMEs and 15 Trillion KRW for Small Businesses Next Year

[Asia Economy Reporter Kiho Sung] IBK Industrial Bank plans to supply 53 trillion won in loans to small and medium-sized enterprises (SMEs) and support 15 trillion won for micro small business owners next year. In addition, in preparation for the rise in the base interest rate, the bank plans to devise measures to help SMEs and small business owners reduce financial costs.

According to the financial sector on the 27th, IBK has decided to establish and implement such policies. First, it will expand the scope of COVID-19 financial support from individual business owners to small-scale corporations and support low-interest guaranteed loans through special contributions to guarantee institutions.

The bank will also operate specialized programs to further reduce loan interest rates for companies with low credit ratings to assist with credit loans, and actively engage in interest rate reductions and interest rate conversions (variable interest rate → fixed interest rate). Specifically, IBK plans to revise the COVID-19 soft landing program to cut loan interest rates by up to 3 percentage points for companies that have the will to normalize management and are pursuing management improvements.

Along with this, through the 'Financial Doctor Program,' which diagnoses the current status of companies and provides customized financial solutions based on analysis results, support for non-financial areas such as job creation and market development will also be increased.

An IBK official said, "We set the 2022 management slogan as 'A New 60 Years, Innovation Toward Customers,'" adding, "We plan to continuously strengthen customer-centric management so that customer value can grow."

This content was produced with the assistance of AI translation services.