Hana Bank Provides Liquidity Support to Small Business Owners and Self-Employed

Hana Bank announced that it will expand proactive financial support for small business owners and self-employed individuals.

To this end, Hana Bank will implement a 'Liquidity Support Plan' that provides customized corporate financing by utilizing the 'Preemptive Corporate Improvement System' and the 'Rapid Financial Support Program.' This plan is part of a win-win financial practice aimed at co-growing with small business owners and self-employed individuals who are experiencing operational difficulties such as delinquency and insolvency risks due to the domestic economic downturn, ahead of the implementation of the Debtor Protection Act in October, which strengthens the bank's own debt restructuring to protect debtors.

First, to proactively support companies showing signs of insolvency, Hana Bank will focus on selecting small business owners and self-employed individuals facing management crises through its self-established 'Preemptive Corporate Improvement System,' providing financial support benefits such as ▲maturity extension ▲installment repayment deferral ▲interest rate reduction ▲new fund support.

Additionally, in line with the recently revised activation measures for the Rapid Financial Support Program, borrowers expected to face temporary liquidity shortages?such as those ▲whose operating cash flow has turned negative or is being maintained as negative ▲whose sales have dropped by more than 10% ▲whose credit rating has fallen by one or more grades compared to the previous rating?will be proactively selected, guided to the Rapid Financial Support Program, and provided with customized corporate financing support.

A Hana Bank official stated, “Through the implementation of this liquidity support plan, we will actively support small business owners and self-employed individuals who have been struggling due to the economic downturn to overcome the current crisis and succeed in recovery,” adding, “We will continue our efforts to practice win-win finance for co-growth with small business owners and self-employed individuals.”