NH Nonghyup Bank Gyeongnam Headquarters Provides Up to 300 Million KRW Support for Small and Medium Enterprises

Bank of Korea Gyeongnam Headquarters and Gyeongnam Credit Guarantee Foundation

Sign Business Agreement to Support SME Growth

NH Nonghyup Bank Gyeongnam Headquarters signed a "Business Agreement for Supporting the Growth of Small and Medium Enterprises" on the 19th with the Bank of Korea Gyeongnam Headquarters and the Gyeongnam Credit Guarantee Foundation to alleviate the financial cost burden on SMEs due to prolonged high interest rates.

This agreement links Nonghyup Bank's SME loans, the Bank of Korea Gyeongnam Headquarters' SME support funds, and Gyeongnam Credit Guarantee Foundation's credit guarantees.

Through this agreement, Nonghyup Bank plans to improve financial accessibility for SMEs engaged in manufacturing within the region while alleviating their financial cost burden.

NH Nonghyup Bank Gyeongnam Headquarters signed a "Business Agreement to Support the Growth of Small and Medium Enterprises" with the Bank of Korea Gyeongnam Headquarters and Gyeongnam Credit Guarantee Foundation on the 19th.
[Image provided by Gyeongnam Nonghyup]

The annual support scale is 30 billion KRW (based on loan amount), and the support target is SMEs engaged in manufacturing (medium credit, 4B or below). Nonghyup Bank plans to provide working capital loans up to 300 million KRW by utilizing credit guarantees from Gyeongnam Credit Guarantee Foundation.

Until July 31 this year, it is possible to link with the Bank of Korea Gyeongnam Headquarters' "2024 Temporary Special Support Fund for SMEs," which offers a higher support rate (75%) compared to the existing SME support fund (within 50%), thereby further enhancing the financial cost relief effect for SMEs in the province.

NH Nonghyup Bank Gyeongnam Headquarters, together with the Gyeongnam Credit Guarantee Foundation, plans to support the prompt and early execution of the agreement through joint marketing with branch offices located in Masan, Tongyeong Hanlyeo, Samcheonpo, Gimhae Industrial Complex, Miryang City, Yangsan City, Haman County, and Changnyeong County, as well as with Gyeongnam Credit Guarantee Foundation staff.

Head of Headquarters Jo Cheong-rae said, "Through this SME growth support business agreement, we hope to help local SMEs operate their businesses stably, and NH Nonghyup Bank will continue to actively support making Gyeongnam a better place for business management."

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