IBK Industrial Bank of Korea Launches Financial Support Program Worth KRW 1.8 Trillion to Help Small Business Owners Rebound
TECHWORLD ·
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IBK Industrial Bank of Korea announced on the 1st the launch of the "IBK Small Business Management Stability Loan."
The product is a specialized financing program designed to support small business owners whose management difficulties have grown amid high interest rates and high inflation.
The total financial support program is worth KRW 1.8 trillion, and it offers operating and facility funds of up to KRW 2 billion per company, along with an interest rate reduction of up to 1.5 percentage points.
IBK Industrial Bank of Korea announced on the 1st the launch of the "IBK Small Business Management Stability Loan." The product is a specialized financing program designed to support small business owners facing mounting cost burdens amid high interest rates and high inflation, helping them get back on track.
The total financial support program is worth KRW 1.8 trillion. IBK Industrial Bank of Korea plans to supply large-scale funds to small business owners whose cost burdens have increased.
The support includes operating and facility funds of up to KRW 2 billion per company. Benefits include an interest rate reduction of up to 1.5 percentage points.
To ease repayment burdens, the grace period for installment-repayment loans will be extended by up to 1 year from the previous terms. Early repayment fees will also be waived. For small business owners in regional areas, the loan limit will be raised to up to KRW 3 billion to strengthen support for local companies.
IBK Industrial Bank of Korea said it expects the support to help small business owners struggling with high interest rates and high inflation. It also said it will continue efforts to help small business owners overcome management crises and rebound.
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Source: TECHWORLD · Lee Gwang-jae
Original: https://www.epnc.co.kr/news/articleView.html?idxno=407660
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Source: TECHWORLD
View originalThis article was summarized and organized by BizCrush based on the original article from TECHWORLD. For exact quotations and full details, please refer to the original article.