‘Low-Interest Loans for Individual Entrepreneurs’ NongHyup Bank Launches Local Government Partnership Loans

Partial Compensation of Local Government Loan Interest Rates

NH Nonghyup Bank announced on the 6th that it will launch the ‘NH Mobile Local Government Agreement Loan,’ which offers low loan interest rates to individual business customers through agreements with local governments.

The NH Mobile Local Government Agreement Loan allows loans at low interest rates as local governments subsidize part of the loan interest. Customers can view integrated loan products for local government agreements by metropolitan cities, provinces, and city/county governments nationwide through NH Smart Banking. Product conditions may vary depending on the local government’s small business support policies and agreement terms.

Currently, small business customers in Chungcheongnam-do can apply for the ‘Chungnam Small Business With Korea Plus Loan’ with a limit of 10 million KRW per person. Customers can easily and quickly handle the entire process from guarantee application to guarantee issuance and loan execution via mobile without visiting branches or regional credit guarantee foundations.

Lee Seok-yong, President of Nonghyup Bank, said, “Through agreements with local governments, we have launched a new product that supports low-interest loans easily and conveniently through mobile channels for local small business customers.” He added, “We will continue to strive to develop specialized products focused on customer convenience and providing practical benefits.”

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