Daegu Bank Provides 500 Billion KRW in Special Lunar New Year Fund Loans

Funding Difficulties for Small and Medium Enterprises Until the 19th of Next Month

[Asia Economy Reporter Park Sun-mi] DGB Daegu Bank announced that starting from the 18th, it will provide a total of 500 billion KRW in 'Seollal Special Fund Loans.'

The 'Seollal Special Fund Loans' are aimed at small and medium-sized enterprises temporarily experiencing financial difficulties and will be available until the 19th of next month, with a maximum support limit of 1 billion KRW per company.

Regarding the loan period, the lump-sum repayment method is for 1 year, and the installment repayment method is up to 5 years without a grace period. Depending on credit status and collateral availability, a preferential interest rate of up to 1.5 percentage points or more can be applied. To ensure swift fund support, loan processing procedures such as credit evaluation and approval authority have been simplified and relaxed.

A Daegu Bank official stated, “We hope that the Seollal Special Fund Loans will help companies struggling due to the prolonged COVID-19 situation to secure funds smoothly. We will continue to strive to be the number one supportive bank for our customers through various support policies.”