iMBank to Provide 200 Billion Won in Financial Support for Companies Affected by Heavy Rain... Loan Interest Rate Reductions and 6-Month Repayment Grace Period

iMBank (President Hwang Byungwoo) announced on the 11th that it will implement a financial support program worth 200 billion KRW and a repayment deferment program to help alleviate the management difficulties of companies affected by heavy rainfall and to fulfill its social responsibilities.

To receive financial support for damages caused by natural disasters, companies must obtain a ‘Disaster Damage Confirmation’ issued by the local government and then visit the nearest iMBank branch for consultation.

Daegu Suseong-gu iM Bank Headquarters

For small and medium-sized enterprises and small business owners whose damages have been confirmed, a special interest rate reduction of up to 1.50%p will be applied to new loans to ease financial burdens. In addition, for existing credit, maturity extensions and principal repayment deferments will be provided for up to six months.

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