Gwangju Bank Contributes 1.5 Billion Won Special Fund to Support Traditional Markets
Gwangju Bank will provide financial support to traditional market merchants.
On the 26th, Gwangju Bank announced that it will make a special contribution of 1.5 billion KRW to the Jeonnam Credit Guarantee Foundation to assist small business owners facing management difficulties.
The Jeonnam Credit Guarantee Foundation plans to use these funds to support 18 billion KRW through the 'Cheer Up! Traditional Market Special Guarantee' program and provide a total of 22.5 billion KRW by signing an additional special guarantee agreement worth 4.5 billion KRW.
The support targets small enterprises and small business owners located in Jeonnam recommended by either Gwangju Bank or the Jeonnam Credit Guarantee Foundation, with up to 70 million KRW available per business.
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The loan period is up to 5 years, with interest rates reduced by up to 1.5 percentage points.
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