"470,000 Won Per Small Business Owner"... KB Kookmin Bank Provides 13 Billion Won in Financial Support

Support Project for Small Business Owners, Second Series
Loan Interest and Guarantee Fee Assistance Provided to Over 28,000 Recipients

KB Kookmin Bank announced on August 4 that it has provided financial support totaling 13 billion won, with 470,000 won per small business owner, through the 'Small Business Owner Support Project'.

This project is being carried out in four areas: ▲non-face-to-face financial support ▲support for loan interest and guarantee fees ▲face-to-face channel financial support ▲sales support.

The 'cost support' program, implemented this time, is designed to alleviate the financial burden on small business owners. It provides cash support for guarantee fees or loan interest to small business owners who have received loans through non-face-to-face channels. So far, approximately 28,000 customers have received support totaling 13 billion won. Each recipient has benefited from a reduction in financial costs of about 470,000 won.

The 'guarantee fee support' program, which was operated with a total limit of 11 billion won, provides cash support for 60% to 80% of the guarantee fee to small business owners who applied for non-face-to-face guarantee-backed loans using guarantee certificates from 17 regional credit guarantee foundations nationwide. About 19,000 customers received an average of 600,000 won in guarantee fee support. Small business owners with mid-to-low credit scores who operate in economically sensitive industries such as restaurants or retail received up to 80% guarantee fee support.

The currently operating 'loan interest support' program provides support for 20% to 50% of the interest paid over six months to small business owners who have received non-face-to-face credit loans. In addition, in April, a 'Small Business Policy Fund Loan Non-face-to-face Service' was launched in cooperation with the Small Enterprise and Market Service, providing 50% guarantee fee support and up to 100,000 won for the first month's interest to small business owners who received the loan.

KB Kookmin Bank plans to provide additional support of 5 billion won to more than 10,000 small business owners in the future.

A KB Kookmin Bank representative said, "We will continue to develop various and differentiated support programs to help small business owners recover and grow amid the economic downturn," and added, "We will do our best to provide effective and customized support for small business owners in the future."