Chungnam Shinbo Provides 2.4 Billion Won in Low-Interest Loans to Small Business Owners

Nonsan City Signs Agreement with Hana Bank
to Provide Low-Interest Loans for Small Business Owners

Chungnam Credit Guarantee Foundation signed a business agreement with Nonsan City and Hana Bank on the 16th to support low-interest loans for small business owners. (Provided by Credit Guarantee Foundation)

Chungnam Credit Guarantee Foundation is launching support for low-interest loans to help stabilize the management of small business owners.

Chungnam Credit Guarantee Foundation announced on the 17th that it had signed a business agreement on the 16th with Nonsan City and Hana Bank to provide low-interest loans totaling 2.4 billion KRW to small business owners.

According to the agreement, Nonsan City and Hana Bank will each contribute 100 million KRW, and the foundation will provide support of up to 50 million KRW per business at an interest rate in the upper 2% range.

The guarantee period is up to seven years, and the support targets are small business owners in the Nonsan traditional market and those who have started their businesses within the last seven years.

Chairman Cho Sohaeng said, "We hope this agreement will serve as a positive catalyst for the local economy of Nonsan."