IBK, 400 Billion KRW Regional 'Customized Financial Support' for Small Businesses and Microenterprises
Provision of Low-Interest Guaranteed Loans through Special Contributions by Regional Credit Guarantee Foundations
Consultation for Credit Guarantee Issuance and Loan Handling from the 14th
IBK Industrial Bank announced on the 14th that it will provide customized regional financial support worth 400 billion KRW for small businesses and small merchants nationwide who are experiencing liquidity crises due to economic recession and high interest rates.
For this financial support, IBK Industrial Bank signed a 'Customized Regional Win-Win Contribution' business agreement with 16 regional credit guarantee foundations nationwide starting from September.
Through special contributions to each regional credit guarantee foundation, IBK Industrial Bank plans to support loans fully secured by credit guarantees and minimize the financial burden on small businesses and small merchants by utilizing its own interest rate reduction program.
Additionally, to align with the purpose of the 'Customized Regional Win-Win Contribution,' such as companies overcoming low birth rates (Gyeongbuk) and youth startup companies (Gwangju), customized preferential support targets were selected and operated for each regional credit guarantee foundation to enhance the effect of the special contributions.
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Bank President Kim Seong-tae stated, “This agreement project is a win-win finance project that helps resolve funding difficulties for small businesses and small merchants in regions with insufficient collateral capacity,” and added, “We hope this financial support will help small businesses and small merchants find new vitality in their businesses and take a stronger leap forward.”
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