SC First Bank Extends Maturity and Supports Interest for Timef Selected Advance Loan Companies

Timon, Timon World, and Wemakeprice Support Borrowers with 3-Month Loan Extensions and Full Interest Coverage

SC First Bank announced on the 5th that it will extend the loan period for customers with advance payment loans and fully support the interest on the extended loans to help sellers facing difficulties due to delayed settlement of sales proceeds from TMON and WEMAKEPRICE.

The support targets borrowers holding Partners Loan (advance payment loan) from TMON, TMON World, and WEMAKEPRICE as of the 18th of last month. If the seller wishes, the Partners Loan can be converted into a refinancing loan with a 3-month extension period. The bank will cover all interest accrued on the Partners Loan due to the settlement delay as well as the interest on the refinancing loan for the next 3 months.

The refinancing loan conversion and maturity extension will be applied to all companies regardless of whether the settlement date has passed, accompanied by measures to prevent sellers from suffering credit rating downgrades due to short-term delinquency.

SC First Bank stated, “We have already begun individual contact with customers using Partners Loan to promptly resolve the difficulties faced by sellers experiencing a major crisis due to this situation.” They added, “We are exploring various additional support measures, including further maturity extensions, to resolve sellers’ difficulties and minimize damages.”

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