Busan·Gyeongnam Bank Launches 1.6 Trillion KRW Special Lunar New Year Holiday Loan
Published 06 Jan.2025 11:18(KST)
Joint Support with 800 Billion KRW Each from Both Sides by February 28
Up to 3 Billion KRW per Company, Maximum 1.0% Interest Rate Reduction Offered
BNK Financial Group's Busan Bank and Gyeongnam Bank will provide a total of 1.6 trillion KRW in the 'BNK 2025 Lunar New Year Special Loan' to local small and medium-sized enterprises (SMEs) and small business owners in celebration of the Lunar New Year holiday.
To alleviate the management difficulties faced by local SMEs struggling due to the prolonged economic downturn and to revitalize the regional economy, each bank will support 800 billion KRW (new loans: 400 billion KRW, loan extensions: 400 billion KRW) for about two months until February 28, totaling 1.6 trillion KRW.
The main support targets are ▲ long-term partner SMEs ▲ local start-ups ▲ SMEs with excellent technological capabilities ▲ local job-creating companies ▲ SMEs engaged in local government strategic industries ▲ and companies with a good repayment record.
The maximum support limit per company is 3 billion KRW, and to reduce financial costs for local SMEs, an interest rate reduction of up to 1.0%p will also be provided.
For more details about the Lunar New Year special loan, customers can inquire at all branches and customer centers of Busan Bank and Gyeongnam Bank.
A BNK Financial Group official stated, “We hope this management stabilization fund will be a practical help to local SMEs facing difficulties,” and added, “BNK Financial Group will continue to prepare various financial support programs to warmly accompany local SMEs and small business owners.”
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