Daegu Bank, 500 Billion KRW Special Chuseok Loan for SMEs
Daegu Bank will provide a 'Chuseok Special Fund Loan' worth 500 billion KRW starting from the 1st of next month to support small and medium-sized enterprises (SMEs) facing difficulties in funding demand ahead of Chuseok.
This special loan will be available until October 13, with a maximum support amount of up to 1 billion KRW per company. Additionally, to alleviate the financial burden on SMEs struggling due to recent economic instability in China and rising raw material prices, an interest rate reduction of up to 2.5 percentage points will be offered.
In particular, to ensure swift funding support, loan processing procedures have been simplified by relaxing credit evaluations and approval authority, enhancing customer convenience.
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Hwang Byung-woo, President of Daegu Bank, stated, “Through this Chuseok Special Fund Loan support, we hope to provide practical assistance for smooth financing to SMEs facing management difficulties. We will implement warm financial services by preparing various timely and appropriate support measures for SMEs struggling due to recent interest rate hikes and economic downturns caused by worsening domestic and international conditions.”
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