BNK Gyeongnam Bank Signs "Miryang City Small Business Support Fund Business Agreement"

BNK Gyeongnam Bank is once again stepping up in the second half of this year to support small business owners in Miryang City, following its efforts in the first half.

On April 29, BNK Gyeongnam Bank announced that it had signed the "2026 Second Half Miryang City Small Business Support Fund Business Agreement" with Miryang City and other parties.

Miryang City Small Business Development Fund Business Agreement.
[Photo by Kyongnam Bank]

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The signing ceremony, held at Miryang City Hall, was attended by Kim Kibum, Senior Managing Director of BNK Gyeongnam Bank; Lee Jeonggon, Deputy Mayor of Miryang City; Lee Hyogeun, Chairman of Gyeongnam Credit Guarantee Foundation; and representatives from other financial institutions.

According to the business agreement, BNK Gyeongnam Bank will contribute 150 million won to the Gyeongnam Credit Guarantee Foundation as a guarantee fund to support the financial needs of small business owners in Miryang City, and will provide guaranteed loans.

Miryang City will contribute 250 million won to the Gyeongnam Credit Guarantee Foundation as a guarantee fund to support local small business owners, and will take overall responsibility for managing the implementation of the agreement.

The Gyeongnam Credit Guarantee Foundation will provide credit guarantee support for the Miryang City Small Business Support Fund, apply a preferential guarantee coverage ratio of 90%, allocate funds, process credit guarantees, assign dedicated personnel, and establish a collaborative framework.

BNK Gyeongnam Bank, along with other financial institutions and Miryang City, contributed a total of 800 million won to the Gyeongnam Credit Guarantee Foundation, and based on this contribution, they will support up to 12 billion won in total funding.

The support limit is up to 50 million won per small business. The repayment method is either a lump-sum repayment at maturity (two-year term) or installment repayment (two-year grace period followed by one to three years of installments).

Kim Kibum, Senior Managing Director of BNK Gyeongnam Bank, said, "We have decided to continue our collaboration with Miryang City and the Gyeongnam Credit Guarantee Foundation in the second half of the year to create a stable business environment for small business owners, who are the backbone of the local economy. We will continue to contribute to the growth of local small businesses and the revitalization of the local economy through substantial financial support."

Meanwhile, separate from the second half Miryang City Small Business Support Fund business agreement, BNK Gyeongnam Bank also signed a "2026 Special Contribution Business Agreement" with the Gyeongnam Credit Guarantee Foundation in March, and made a special contribution of 5 billion won to the foundation to strengthen liquidity support for local small businesses and micro-enterprises.

Through this, the Gyeongnam Credit Guarantee Foundation is providing guarantees to local small businesses and micro-enterprises in the Gyeongnam region up to 75 billion won, which is 15 times the special contribution, while BNK Gyeongnam Bank is providing guaranteed loans.

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