NH Nonghyup Bank Gyeongnam Headquarters Contributes 6.08 Billion Won to Gyeongnam Credit Guarantee Foundation

SME and Small Business Loan Guarantee Fund of 60 Billion KRW Established

Gyeongnam Promising SMEs and Small Businesses Support Win-Win Agreement Ceremony

NH Nonghyup Bank Gyeongnam Headquarters signed the ‘Gyeongsangnam-do Promising Small and Medium Enterprises and Small Business Financial Support Win-Win Agreement’ with the Gyeongnam Credit Guarantee Foundation on the 17th to support the financial needs of small and medium enterprises and small business owners in the province, and delivered a special contribution fund.

On the same day, Headquarters Director Jo Geunsu visited the Gyeongnam Credit Guarantee Foundation and held a signing ceremony with Chairman Lee Hyogeun, contributing 6.08 billion KRW to support small and medium enterprises and small business owners in the province.

Since 2016, more than 2 billion KRW has been contributed annually for six consecutive years. This year, the contribution was increased by more than 3 billion KRW compared to last year to support small and medium enterprises and small business owners in the province who are facing difficulties due to the suspension of COVID-19 special fund support and uncertain domestic and international economic conditions.

NH Nonghyup Bank Gyeongnam Headquarters delivered a special contribution to the Gyeongnam Credit Guarantee Foundation on the 17th.
[Image provided by Gyeongnam Nonghyup]

Through this contribution, NH Nonghyup Bank is known to have contributed a total of 42.7 billion KRW since the founding of the Gyeongnam Credit Guarantee Foundation in 1996.

According to the agreement, 60 billion KRW of new guaranteed loans will be provided to small and medium enterprises and small business owners located in Gyeongnam through NH Nonghyup Bank.

The loan limit is up to 100 million KRW per company, with a maximum loan period of 5 years. For loans of 50 million KRW or less, a full guarantee certificate is issued, and for loans exceeding 50 million KRW, a 90% guarantee certificate is issued.

Director Jo of the Gyeongnam Headquarters said, “I hope this special contribution will help small and medium enterprises and small business owners in the province who are facing difficulties,” and added, “Nonghyup Bank will continue to strengthen cooperation with the Gyeongnam Credit Guarantee Foundation and do its best to support the financial needs of small and medium enterprises and small business owners.”

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