Small Business Owners Receive Customized Consulting and Interest Rate Discounts from Banks

Government, Banks, and Institutions Collaborate as a 'One Team'
Banking Sector to Introduce Small Business Consulting Manuals

A system will be established where small business owners can receive customized consulting for situations such as startup, operation, and closure at banks, and upon completion, receive interest rate discounts. The banking sector plans to introduce operational manuals and expand consulting centers to strengthen its own small business consulting service capabilities.

Government, Banks, and Institutions Collaborate as a 'One Team'

On the morning of the 2nd, the Ministry of SMEs and Startups announced that it held a 'Business Agreement Ceremony for Expanding the Small Business Consulting Ecosystem' at the Bankers' Hall in Myeongdong, Seoul, with related institutions such as the Korea Federation of Banks, the Financial Services Commission, and the Credit Recovery Committee in attendance. This agreement was signed as a follow-up measure to the 'Banking Sector Small Business Financial Support Plan' announced last December by the banking sector along with the Ministry of SMEs and Startups and the Financial Services Commission, aiming to establish a support system and implementation foundation to provide customized consulting to small business owners.

The agreement includes provisions that small business owners who receive and complete customized consulting services for situations such as startup, operation, and closure through banks will be eligible for interest rate discounts. The support targets will gradually expand from startups and debt adjustment recipients.

To this end, the government, banking sector, and public and private institutions have agreed to join forces to build a cooperative system for small business consulting, including a one-stop platform. Moving forward, they will link and provide mutual consulting programs to activate small business consulting, share related data, research materials, and services, and promote policies such as the 'Financial Support Triple Package' through bank branches.

Choi Won-young, Director of the Small Business Policy Office at the Ministry of SMEs and Startups, said, "Good mentors are necessary for smooth startup and growth of small business owners, and we expect the government, private sector, and banks to act as one team to actively support small business owners." Kwon Dae-young, Secretary General of the Financial Services Commission, stated, "We expect that startups and small business owners will be able to systematically receive services such as commercial area analysis, business model development, financial support, and management support linkage through banks and consulting institutions," adding, "We hope this program becomes a reliable companion for small business owners, and the government will continue policy efforts to ensure its successful settlement."

Banking Sector to Introduce Small Business Consulting Manuals

In particular, the banking sector plans to introduce a 'consulting operational manual' and expand consulting centers to strengthen its own small business consulting service capabilities.

The banking sector's consulting operational manual includes basic principles to strengthen support for small business consulting, consulting work procedures, necessary organizations and personnel for task execution, and internal standards preparation. It also contains measures to activate the system, such as offering preferential loan interest rates when consulting completers apply for business loans at the respective banks. Accordingly, banks will conduct consulting for small business owners starting in the second half of this year and, if direct consulting is difficult, will perform consulting in cooperation with external specialized institutions.

Additionally, the banking sector plans to expand consulting centers. As of the end of last year, 32 consulting centers operated by 9 banks will be expanded to 60 centers across 14 banks within this year, with continuous efforts to increase the number of centers.