Shinhan Bank to Provide 15.2 Trillion Won in Funding to SMEs for Chuseok Holiday
Shinhan Bank announced on September 2 that it will provide financial support totaling 15.2 trillion won to small and medium-sized enterprises (SMEs) experiencing temporary difficulties in cash flow during the Chuseok holiday period.
This financial support will be available until October 16, and each company can receive newly issued loans of up to 1 billion won within the scope of their funding needs. The program also includes preferential interest rates of up to 1.5 percentage points, maturity extensions without principal repayment requirements, and deferred payment of installment loans.
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A Shinhan Bank representative stated, "We have prepared this financial support to help SME clients manage their cash flow smoothly ahead of the Chuseok holiday," adding, "Going forward, we will continue to expand inclusive finance to ease the financial burden on SMEs and small business owners and support their stable business operations."
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