BNK Busan Bank to Provide 150 Billion KRW... Supporting Small Businesses with Busan City and Credit Guarantee Foundation

Special Fund Support Agreement for Small Business Owners Signed at Busan Credit Guarantee Foundation
Guaranteed Loans of up to 100 Million KRW Each for Small Business Owners and the Self-Employed

Busan Bank has joined forces with Busan City and the Busan Credit Guarantee Foundation to support small business owners struggling due to the economic downturn and weakened consumer sentiment.

Busan Bank (President Bang Seong-bin) announced on the afternoon of the 3rd that it signed the "Busan City Small Business Special Fund Support Agreement" with Busan City and the Busan Credit Guarantee Foundation at the Busan Credit Guarantee Foundation. The signing ceremony was attended by Bang Seong-bin, President of Busan Bank, Park Hyung-joon, Mayor of Busan, and Seong Dong-hwa, Chairman of the Busan Credit Guarantee Foundation.

Under this agreement, Busan Bank will make a special contribution of 10 billion KRW to provide guaranteed loans totaling 150 billion KRW and offer preferential interest rates. Busan City will contribute guarantee funds and allocate a budget for interest rate subsidies. The Busan Credit Guarantee Foundation will provide credit guarantees based on the contributed funds.

The loan support targets small business owners and self-employed individuals in Busan City, with a maximum limit of 100 million KRW per business.

Bang Seong-bin, President of Busan Bank, said, "We hope this project will help citizens facing difficulties," adding, "Busan Bank will actively participate in the city's economic stimulus policies to help revitalize the local economy."

Busan Mayor Park Hyung-jun (center) is signing a business agreement on support for small business owners with Bang Sung-bin, President of BNK Busan Bank (far right), and Sung Dong-hwa, Chairman of Busan Credit Guarantee Foundation.