Cheonan City Adds 500 Million Won to Special Guarantee Fund for Small Business Owners

On the 27th, Hana Bank Signed a 'Special Guarantee Financial Support Agreement for Small Business Owners'

Cheonan City in Chungnam Province and Hana Bank have signed a 'Special Guarantee Financial Support Agreement for Small Business Owners.'

At the signing ceremony held on the 27th, Park Sang-don, Mayor of Cheonan, and Lee Dong-yeol, Vice President of Hana Bank's Chungcheong Sales Group, attended and joined hands to support small business owners.

Through this agreement, the city additionally contributed 500 million KRW to the Chungnam Credit Guarantee Foundation for the special guarantee for small business owners.

The special guarantee for small business owners is a system that supports guarantees through the Chungnam Credit Guarantee Foundation, enabling small business owners who have difficulty obtaining bank loans due to lack of collateral to receive low-interest loans from financial institutions.

The city plans to support special guarantees worth 44 billion KRW, and small business owners with workplaces in Cheonan can use up to 50 million KRW per business with an interest rate around 3% per annum. Applications can be made through the Chungnam Credit Guarantee Foundation.

Mayor Park Sang-don said, "We expect the special guarantee support project for small business owners to greatly help the business normalization of small business owners suffering from the prolonged economic downturn," and added, "We will spare no necessary support to revive the stagnant local economy."