NH Nonghyup Bank Launches 'Business Stability Support Guarantee Loan' for Small Businesses and Small Merchants
NH Nonghyup Bank announced on the 15th that it will offer the ‘Management Stability Support Agreement Guarantee Loan’ product for small businesses and small merchants facing difficulties in raising funds.
The Management Stability Support Agreement Guarantee Loan will be sold temporarily until the end of this year through a business agreement with the Korea Credit Guarantee Fund. Eligible applicants are small businesses and small merchants currently in operation, and the loan period is 1 year (extendable up to 5 years) with a lump-sum repayment. Early repayment fees are waived.
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Lee Yeon-ho, Vice President of the Corporate Investment Finance Division at NH Nonghyup Bank, said, “We hope this agreement guarantee will provide some relief to small businesses and small merchants struggling with cash flow due to the economic downturn,” adding, “NH Nonghyup Bank will continue to be a reliable partner for small businesses and small merchants.”
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