Chungnam Credit Guarantee Foundation and Three Banks Expand Special Guarantee Support for Small Business Owners in Asan to 55.8 Billion Won

Local Government and Banks Jointly Contribute 2.4 Billion Won
Building a Multilateral Cooperative Financial Safety Net

Chungnam Credit Guarantee Foundation is partnering with Asan City and major commercial banks to provide a total of 55.8 billion won in special guarantee support for small business owners. This structure involves joint contributions from the local government and the financial sector to ease the region's funding constraints.

On February 27, Chungnam Credit Guarantee Foundation signed a five-party agreement at Asan City Hall with Asan City, NongHyup Bank, Hana Bank, and Shinhan Bank for the "Special Guarantee Support for Small Business Owners in Asan City."

According to this agreement, Asan City will contribute 1.2 billion won, while NongHyup Bank and Hana Bank will each add 500 million won, and Shinhan Bank will contribute 200 million won, creating a total fund of 2.4 billion won.

Based on these contributions, Chungnam Credit Guarantee Foundation plans to supply an additional 28.8 billion won in new special guarantees. Including previous support, the total guarantee amount available for small business owners in Asan City will be expanded to 55.8 billion won.

This agreement adopts a multilateral cooperation model involving three financial institutions, which is evaluated as having enhanced the stability and sustainability of the guarantee fund.

Chungnam Credit Guarantee Foundation plans to strengthen on-site accessibility by operating the mobile financial consultation bus "Dallyeoga, U" and by expanding its network of digital financial branches.

Jo Sohaeng, Chairman of Chungnam Credit Guarantee Foundation, stated, "We will expand the functions of our digital financial branches to ensure that small business owners can access funds when needed, focusing on rapid execution."

This guarantee product will be available for non-face-to-face applications through the "Bojeung Dream" app starting in mid-March, and further details can be obtained from the Chungnam Credit Guarantee Foundation Financial Support Center.

This content was produced with the assistance of AI translation services.