Gwangju Bank Signs Business Agreement for Special Guarantee for Small Business Owners

Gwangju Bank recently announced on the 22nd that it has signed a business agreement for the 'Special Guarantee for Small Business Owners' with Nam-gu, Gwangju Metropolitan City, and the Gwangju Credit Guarantee Foundation.

Gwangju Bank will separately contribute 100 million KRW to support local small business owners amid the prolonged economic downturn caused by high interest rates and high inflation, which have increased difficulties for ordinary citizens.

The Gwangju Credit Guarantee Foundation will use these funds to provide a total of 3.36 billion KRW in special guarantees, and Nam-gu will compensate for the interest rate difference of 4.5%.

The support targets small business owners operating in Nam-gu, with up to 20 million KRW per business. The loan period is up to 5 years.