Shinhan Bank Makes Special Contribution of 900 Million Won, Gyeongbuk Credit Guarantee Foundation Guarantees 9 Billion Won in Loans... Up to 100 Million Won Guarantee per Small Business

Gyeongbuk Credit Guarantee Foundation (Chairman Kim Junggwon), in cooperation with Shinhan Bank, has been implementing the "Shinhan Bank Special Contribution Gyeongbuk Small Business and Small Merchant Financial Support Agreement Guarantee" since September 22 to strengthen financial support for local small businesses and small merchants struggling due to the economic recession.

Shinhan Bank has made a special contribution of 900 million won to Gyeongbuk Credit Guarantee Foundation, which will use these funds to guarantee loans totaling 9 billion won, equivalent to ten times the contribution amount. This initiative aims to expand the guarantee resources of financial institutions and increase financial support for local small businesses and small merchants, thereby promoting management stability and revitalizing the local economy.

Gyeongbuk Credit Guarantee Foundation

The support targets small businesses and small merchants in Gyeongsangbuk-do, with guarantee support provided for operating funds of up to 100 million won per company. A fixed guarantee fee rate of 0.9% per annum is applied to reduce the financial burden on small merchants.

The repayment methods include a lump-sum repayment at maturity after one year, or equal monthly principal repayments for four years following a one-year grace period. In the case of a lump-sum repayment, the term can be extended in one-year increments for up to five years, subject to review.

Small merchants wishing to apply remotely may use the Bojeung Dream (APP), while those seeking in-person consultation can reserve a consultation and apply via the Gyeongbuk Credit Guarantee Foundation website or the AI call center.

Kim Junggwon, Chairman of Gyeongbuk Credit Guarantee Foundation, stated, "For local small businesses and small merchants to continue operating stably, it is essential to provide financial support at the necessary time," adding, "We hope that Shinhan Bank's special contribution will provide practical help to small merchants facing difficulties in securing funds."

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