Gyeongbuk Province to Support Small Business Owners with Low-Interest Loans... Daegu Bank Specially Contributes 6 Billion KRW

<중기부정책자금＋경북버팀금융 이차보전

결합상품으로 2%대 초저금리 지원 가능
결합상품으로 2%대 초저금리 지원 가능>
Mid-term Policy Fund + Gyeongbuk Support Finance Interest Subsidy

Combined Product Offers Ultra-low Interest Rates in the 2% Range

[Asia Economy Yeongnam Reporting Headquarters Reporter Koo Dae-seon] DGB Daegu Bank is making a special contribution of 6 billion KRW to carry out a low-interest support project for small business owners in Gyeongbuk.

On the 21st, Gyeongbuk Province will hold a ceremony to deliver the special contribution fund from Daegu Bank for low-interest policy fund support for small business owners at the provincial government reception room.

Gyeongbuk Provincial Government Office.

Lee Cheol-woo, Governor of Gyeongbuk Province, received a certificate of special contribution commitment of 6 billion KRW for the Gyeongbuk Credit Guarantee Foundation from Hwang Byung-woo, President of Daegu Bank, and expressed gratitude for Daegu Bank’s efforts to support small business owners in Gyeongbuk.

The 6 billion KRW specially contributed by Daegu Bank will be used as a guarantee fund to support policy funds worth 90 billion KRW (15 times the contribution amount) for small business owners struggling in the high-interest rate environment.

Gyeongbuk Province has been promoting low-interest support measures to stabilize the livelihood economy by holding meetings on financial support measures for small and medium enterprises, and this support project is the first case promoted in cooperation with financial institutions.

In addition to the special contribution, Daegu Bank is the only commercial bank to build a computerized system for a product that combines the Small Enterprise and Market Service policy fund from the Ministry of SMEs and Startups (worth 1 trillion KRW, actual loan interest rate of 4.44% in Q1 2023) and the Gyeongsangbuk-do Small Business Promotion Fund interest subsidy project (2% per year, supported for 2 years), designed to enable loans at an ultra-low interest rate of 2.44%.

When the Ministry of SMEs and Startups policy fund is exhausted, general guaranteed loans (5.88%) will be promoted, and when combined with the Gyeongbuk Support Finance interest subsidy project, loans can be used at 3.88%.

The loan limit is up to 50 million KRW, with conditions of a 2-year grace period and 3-year repayment or a 2-year grace period with lump-sum repayment. Applicants can select a branch at the business location through the Gyeongbuk Credit Guarantee Foundation AI call center to receive detailed information.

Governor Lee Cheol-woo said, “This support is like a lifeline for small business owners who are feeling the economic crisis caused by high interest rates on the front lines,” and added, “I deeply thank Daegu Bank for being the first to take the lead in promoting low-interest support measures to stabilize the livelihood economy in Gyeongbuk.”