Agreement on Small Business Policy Fund Cooperation at City Hall at 11 AM on the 22nd
Mayor Park Hyung-jun, Hana Bank President Lee Seung-yeol, and Busan Credit Guarantee Foundation Chairman Seong Dong-hwa
Busan City, Hana Bank, and Busan Credit Guarantee Foundation are launching a policy fund support program worth 195 billion KRW to advance as a global hub city and revitalize the local economy.
On the 22nd at 11 a.m., the city will sign a 'Small Business Policy Fund Support Agreement' with Hana Bank and Busan Credit Guarantee Foundation at the City Hall International Protocol Room.
At the signing ceremony, Mayor Park Hyung-jun, Bank President Lee Seung-yeol, and Chairman Sung Dong-hwa will attend and personally sign the agreement. Once the agreement is finalized, the three institutions will cooperate to provide a total of 195 billion KRW in special funds to small business owners in Busan.
The 'Small Business Special Fund' is a policy fund that loans up to 150 million KRW to small business owners in Busan and supports loan interest up to 2% annually for one year (interest subsidy).
Hana Bank will provide the loan products, the city will support the interest subsidy amount, and Busan Credit Guarantee Foundation will offer guarantee services for the loans.
This special fund for small business owners was prepared as Hana Bank contributed 11 billion KRW to Busan Credit Guarantee Foundation to stabilize the management of small business owners in the city and revitalize the local economy. This amount is 1 billion KRW more than the 10 billion KRW Hana Bank contributed last year for the '2030 World Expo Bid Support Small Business Guarantee.'
Hana Bank, which contributed over 10 billion KRW again this year, made the largest contribution ever among commercial banks. Thanks to this, Busan Credit Guarantee Foundation secured financial capacity to provide over 195 billion KRW in guarantee support for local small business owners, continuing from the previous year.
In response, the city and Busan Credit Guarantee Foundation also reciprocated Hana Bank's generous decision to make the largest contribution ever and expanded this year's support beyond the existing special fund to alleviate the management difficulties of small business owners struggling with high interest rates and inflation.
The city increased the existing maximum annual interest subsidy from 1.5% to 2%, an expansion of 0.5%.
Busan Credit Guarantee Foundation applied a standard guarantee fee rate of 0.8 to 0.9%, lower than the previous 1.2%, for customers.
Starting from the 22nd, small business owners can apply for 195 billion KRW worth of policy funds through Hana Bank’s loan products for 'Global Hub City Advancement,' 'Small Business Support,' and 'Rent Support.'
Hana Bank unusually implemented three loan products simultaneously to provide the most suitable financial support for small business owners in the city, broadening the options for applicants.
For detailed information about fund support, inquiries can be made to Busan Credit Guarantee Foundation.
Mayor Park Hyung-jun said, “I sincerely thank Hana Bank for practicing inclusive finance by contributing a record-high 11 billion KRW to support small business owners facing management crises,” and added, “I hope the small business policy funds prepared through this agreement will help revitalize the local economy and alleviate the management difficulties of small business owners struggling with consumption stagnation.”
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