Daegu Bank Provides Special Guarantee Loans to Small Business Owners Facing Financial Difficulties

[Asia Economy Yeongnam Reporting Headquarters Reporter Koo Dae-seon] DGB Daegu Bank (President Hwang Byung-woo) and the Korea Credit Guarantee Fund (Chairman Lee Sang-hoon) announced on the 13th that they will implement special guarantee loans for medium-credit small businesses and small merchants in the Daegu and Gyeongbuk regions to alleviate their financial difficulties.

DGB Daegu Bank and the Credit Guarantee Fund signed a business agreement on the 1st to support management stabilization funds for companies and small merchants facing difficulties in financing due to the triple crisis of high interest rates and others, through special guarantee services for medium-credit small businesses and small merchants.

Daegu Bank Headquarters.

The support targets are small businesses and small merchants with medium credit (NICE credit score between 710 and 839) who have been operating normally for more than six months. Companies with tax arrears, accident or subrogation payments, or those currently overdue are excluded. Compared to existing guarantee products, preferential guarantee fees (0.5%), preferential interest rates (lump-sum repayment CD rate + 1.5%, installment repayment CD + 1.8%), and a maximum limit of 30 million KRW per business are provided.

Customers who wish to use the service can apply by preparing a business registration certificate, ID card, and lease contract (if a tenant) and visiting a DGB Daegu Bank branch or the Credit Guarantee Fund.

In particular, customers who visit DGB Daegu Bank branches located in the Daegu and Gyeongbuk regions to apply for this loan can use a one-stop service that allows them to apply for both the guarantee and the loan at the bank branch without visiting the Credit Guarantee Fund.

A DGB Daegu Bank official expressed hope that “this agreement will contribute to revitalizing the economy of the Daegu and Gyeongbuk regions, and we will strive to expand financial support for local small businesses and small merchants facing management difficulties due to the complex financial crisis.”