Busan Bank, Busan City, and Shinbo Sign Financial Support Agreement for Small and Medium Enterprises

Busan Bank is practicing regional win-win inclusive finance by signing an agreement with Busan City and the Korea Credit Guarantee Fund to support small and medium-sized enterprises (SMEs) struggling with liquidity shortages.

On the morning of the 19th, BNK Busan Bank held a business agreement ceremony at Busan City Hall with Busan City and the Korea Credit Guarantee Fund for "financial support to respond to the crisis of SMEs in the Busan region and regional coexistence."

Through this business agreement, Busan Bank will contribute to the Korea Credit Guarantee Fund to provide credit guarantee-backed loans worth 205 billion KRW. Of this, 180 billion KRW is planned to be supported for SMEs located in Busan.

For the "Special Contribution Agreement Guarantee," a 100% guarantee ratio will be applied for three years, along with a 0.2% reduction in guarantee fees. The "Guarantee Fee Support Agreement Guarantee" offers a 0.4% annual reduction in guarantee fees for two years.

The support targets include ▲companies engaged in regionally representative industries ▲companies within seven years of establishment ▲job-creating companies ▲venture companies, and applications can be made from the 19th at Busan Bank branches or Korea Credit Guarantee Fund branches.

BNK Busan Bank President Bang Seong-bin (right), Busan Mayor Park Hyung-joon (center), and Credit Guarantee Fund Chairman Choi Won-mok are taking a commemorative photo of the agreement signing.

Bang Seong-bin, President of Busan Bank, said, "We hope this business agreement will help SMEs facing difficulties to secure smooth funding," adding, "Busan Bank will continue to actively support regional SMEs to expand inclusive finance and contribute to revitalizing the local economy."

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