BNK Financial Launches Agreement-Guaranteed Loan for SMEs to Expand Maritime Finance Base
BNK Financial Group (Chairman Bin Daein) announced on August 21 that it has launched the "BNK SME Shipping Company Agreement-Guaranteed Loan" through Busan Bank and Kyongnam Bank.
This product aims to strengthen its expertise in maritime finance and support the smooth supply of liquidity to domestic small and medium-sized shipping companies.
The "SME Shipping Company Agreement-Guaranteed Loan" is structured so that when a domestic shipping company offers a vessel it owns or newly acquires as collateral, the Korea Ocean Business Corporation issues a guarantee for the loan. This addresses the limitations of previous ship mortgage loans, which were mainly focused on large vessels and subject to headquarters-level review, by enabling swift and flexible financial support for small and medium-sized vessels. As a result, both the loan limits and interest rate terms have been improved.
A BNK Financial Group representative stated, "It is meaningful to provide practical support to small and medium-sized shipping companies in the Busan-Ulsan-Gyeongnam region that are struggling to secure liquidity," adding, "We will continue to develop and actively promote various maritime finance products to help Busan become a leading maritime finance hub."
BNK Financial Group plans to provide a total of KRW 150 billion in financial support over the next five years, starting with KRW 30 billion this year. Applications for this product are available at all branches of Busan Bank and Kyongnam Bank starting August 21.
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Recently, BNK Financial reorganized its regional specialized business team within the holding company into the "Southeast Growth Support Team" and, through Busan Bank, became the first private bank to independently issue a refund guarantee (RG) worth USD 164 million to HJ Shipbuilding & Construction, a domestic mid-sized shipbuilder, thereby accelerating the revitalization of the maritime finance industry.
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