BNK Busan·Gyeongnam Bank Provides 1.6 Trillion KRW Special Funds for Small and Medium Merchants During Chuseok Holiday
BNK Financial Group's Busan Bank and Gyeongnam Bank will provide a total of 1.6 trillion KRW in the 'BNK 2023 Chuseok Special Loan' to local small and medium-sized enterprises (SMEs) and small business owners in celebration of the Chuseok holiday.
To alleviate the management difficulties of local SMEs struggling due to the economic downturn and to support the revitalization of the regional economy, each bank will provide 800 billion KRW (400 billion KRW in new loans and 400 billion KRW in loan extensions) for two months from the 4th to October 31st, totaling 1.6 trillion KRW.
The support targets include local start-up companies, SMEs with long-term transactions with the two banks, companies creating local jobs, companies with excellent technological capabilities, SMEs engaged in local government strategic industries, and companies affected by COVID-19. The maximum support amount per company is up to 3 billion KRW.
In particular, to reduce the financial burden on local SMEs, an additional interest rate reduction of up to 1.0% will be provided.
Detailed information about the special loan can be found at all branches and customer centers of Busan Bank and Gyeongnam Bank.
A BNK Financial Group official said, “Busan Bank and Gyeongnam Bank provide special loans every year ahead of Chuseok to help local SMEs overcome management difficulties and support regional economic revitalization,” adding, “We hope this special loan will be of practical help to local SMEs and small business owners.”
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Busan Bank and Gyeongnam Bank received the highest rating of 'Excellent' for the fourth consecutive year in the '2023 Financial Company Regional Reinvestment Evaluation' announced by the Financial Services Commission on August 31, achieving high scores in local fund supply, SME support, and loans to low-income borrowers.
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