IBK Launches Fixed-Rate Loan for Mid- and Low-Credit SMEs Worth 1 Trillion Won
Up to 1 Percentage Point Interest Rate Reduction Benefit
On August 3, IBK Industrial Bank of Korea announced the launch of its "Hope On Safe Fixed Rate Loan (Heemang On On Ansim Gojunggeumli Daechul)," a fixed-rate, specialized financial product totaling 1 trillion won, aimed at alleviating the financial burden for small and medium-sized enterprises (SMEs) with mid- to low-credit scores.
This product has been designed to help SMEs with mid- to low-credit ratings, who are struggling with increased interest payments during periods of rising rates. It aims to reduce their financial costs while supporting stable business operations.
The maximum loan amounts are 1 billion won in working capital and 4 billion won in facility funds per company. IBK Industrial Bank of Korea will offer interest rate reductions of up to 1.0 percentage point, applied within the gap between fixed and floating rates.
In addition, the product offers an option to switch from a fixed rate to a floating rate in preparation for possible future rate reductions. This switch can be exercised once, after six months from disbursement, allowing businesses to respond flexibly to market interest rate changes and further reduce their financial burden.
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An IBK Industrial Bank of Korea official said, "Through this product, we aim to ease the financial burden for SMEs with mid- to low-credit ratings and help them grow into strong, high-quality companies. We will continue to expand inclusive financial support, serving as a reliable growth ladder for SMEs in the future."
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