Credit Loans of Up to 20 Million Won to Be Provided
for Individual Business Owners in Jinju Region
BNK Kyongnam Bank is actively promoting win-win finance initiatives to support local small business owners who are struggling due to the economic downturn.
On April 18, BNK Kyongnam Bank announced that it had signed the "Small Business Hope Sharing Win-Win Finance Business Agreement" with Jinju City.
Bank President Kim Taehan visited Jinju City Hall and held a signing ceremony for the "Small Business Hope Sharing Win-Win Finance Business Agreement" with Mayor Cho Gyuil.
The Small Business Hope Sharing Win-Win Finance program was established to provide financial support to local small business owners suffering from declining sales due to the economic downturn and to contribute to revitalizing the local economy.
Under the terms of the agreement, BNK Kyongnam Bank will provide low-interest loans of up to 20 million won per person, without collateral or guarantees, to individual business owners in Jinju with an annual income of 40 million won or less, within a total limit of 3 billion won.
The repayment method is installment payments within five years, and there is no prepayment fee.
Small business owners in Jinju who wish to apply for a credit loan can contact a BNK Kyongnam Bank branch in Jinju in advance and then visit the branch.
President Kim Taehan said, "The Small Business Hope Sharing Win-Win Finance program, which we are promoting in partnership with Jinju City, will help stabilize the management and resolve liquidity crises for local small business owners. As a 'reliable partner working together with the local community,' BNK Kyongnam Bank will continue to make greater efforts to practice win-win finance."
Meanwhile, BNK Kyongnam Bank plans to increase the funding limit for the Small Business Hope Sharing Win-Win Finance program by 3.5 billion won from last year, operating a total of 33.5 billion won this year.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
