NongHyup Bank Launches 'NH Corporate Growth Loan'

[Asia Economy Reporter Kiho Sung] NH Nonghyup Bank announced on the 20th that it has launched a corporate product called 'NH Corporate Growth Loan' that offers preferential loan limits and interest rates to companies and individual business owners who contribute to creating economic growth engines such as expanding production facilities despite the COVID-19 crisis.

'NH Corporate Growth Loan' provides preferential loan limits based on the industry management rating assigned to each industry according to the risk level by industry at Nonghyup Bank, as well as the Hanaro corporate customer rating. It also offers a maximum preferential interest rate of 1.5 percentage points depending on factors such as sales and cumulative order contract increases, and the proportion of self-financing in facility funds.

To reduce the burden of monthly repayments and interest rate increases, a mixed repayment method has been introduced to diversify repayment methods, and within a total limit of 500 billion KRW, customers can choose an interest rate adjustment cycle of up to 3 years. Specialized services such as NH Corporate Management Consulting and Agri-food Corporate Consulting are also provided depending on the industry.

President Junhak Kwon said, "Despite the COVID pandemic, Nonghyup Bank will fulfill its responsibility and role in promoting a virtuous cycle structure of corporate financial support through active support for companies and individual business owners."

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