Gwangju Bank-Seogu, Special Guarantee Business Agreement for Small Business Owners
Gwangju Bank announced that it has signed a 'Special Guarantee Business Agreement for Small Business Owners' with Seo-gu, Gwangju Metropolitan City, and the Gwangju Credit Guarantee Foundation.
Gwangju Bank plans to separately contribute 150 million KRW to support local small business owners facing management crises, and using these funds, the Gwangju Credit Guarantee Foundation will provide 4.2 billion KRW in special guarantees. Seo-gu, Gwangju Metropolitan City, will compensate the interest rate difference up to 5.0% (4.0% for high-credit borrowers, 5.0% for medium- and low-credit borrowers).
The support targets small business owners operating in Seo-gu, Gwangju Metropolitan City, with up to 20 million KRW per business, and the loan period is up to 5 years.
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Vice President Sang-chae Lee said, “We hope to support local small business owners struggling with management difficulties due to the economic downturn and thereby revitalize the local economy,” adding, “As a leading regional bank, we will continue to prepare various financial support measures for local residents and pursue community-based win-win management.”
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