Hyundai Commercial Operates 'Customized Repayment Support Program' for SMEs and Small Business Owners
Program Operated to Ensure Stable Business Even After Government Financial Support Ends in Late September
[Asia Economy Reporter Yu Je-hoon] Hyundai Commercial announced on the 18th that it will provide customized repayment support programs and comprehensive financial consulting for small and medium-sized enterprises (SMEs) and small business owners struggling due to COVID-19.
Earlier, since April 2020, the government has supported SMEs and small business owners who suffered economic losses from COVID-19 through loan maturity extensions and principal and interest repayment deferrals. In the second half of the year, a soft landing plan is being reviewed to enable interest rate reductions and loan support through first-tier financial institutions.
In response, Hyundai Commercial operates a customized repayment support program to reduce customers' repayment burdens through various financial supports, ensuring stable business operations even after financial support ends at the end of September.
Hyundai Commercial provides various repayment support programs such as ▲short-term deferral ▲principal deferral ▲term extension tailored to customers' cash flow and needs, including sales scale and profitability. For businesses severely affected by COVID-19, it also supports debt succession and sale of idle vehicles to minimize damage.
Additionally, Hyundai Commercial offers customized comprehensive financial consulting by utilizing industrial equipment specialists active nationwide and regionally, allowing customers to select deferral periods and payment methods according to their repayment capacity and payment plans.
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A Hyundai Commercial official stated, "We hope that the customized repayment support program and comprehensive financial consulting will be of practical help to SMEs and small business owners struggling with the prolonged COVID-19 pandemic," adding, "Hyundai Commercial will continue to do its best to become a model company pursuing mutual growth with its customers."
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