BNK Financial Group will provide special loans totaling 1.6 trillion won to support local small and medium-sized enterprises (SMEs) and small business owners facing financial difficulties ahead of the Chuseok holiday.
On August 24, BNK Financial Group announced that it will offer the 'BNK 2026 Chuseok Special Loan' through BNK Busan Bank and BNK Gyeongnam Bank.
This special loan program aims to alleviate the financial burden on local SMEs and small businesses struggling due to economic downturns, liquidity shortages, and declining sales. The initiative is designed to facilitate funding for businesses that experience increased working capital needs as the holiday approaches, thereby ensuring a smoother flow of funds in the local economy.
The support period runs from today until October 26. Both Busan Bank and Gyeongnam Bank will each provide 800 billion won, totaling 1.6 trillion won. Each bank's contribution consists of 400 billion won in new funds and 400 billion won for extending existing loans.
Eligible recipients include companies in the marine and fisheries industry, local startups, technologically advanced SMEs, businesses creating local jobs, SMEs engaged in strategic industries supported by local governments, and long-term trading SMEs.
Each company can borrow up to 3 billion won, and to reduce financial costs, a maximum interest rate reduction of 1.0 percentage point will be offered.
A BNK Financial Group official stated, "We hope this special loan will help ease the management burden on local SMEs and small businesses during a time of increased funding demand ahead of Chuseok. We will continue to fulfill our role as a representative financial group in the region to ensure timely financial support where it is needed."
On August 24, BNK Financial Group announced that it will offer the 'BNK 2026 Chuseok Special Loan' through BNK Busan Bank and BNK Gyeongnam Bank.
This special loan program aims to alleviate the financial burden on local SMEs and small businesses struggling due to economic downturns, liquidity shortages, and declining sales. The initiative is designed to facilitate funding for businesses that experience increased working capital needs as the holiday approaches, thereby ensuring a smoother flow of funds in the local economy.
The support period runs from today until October 26. Both Busan Bank and Gyeongnam Bank will each provide 800 billion won, totaling 1.6 trillion won. Each bank's contribution consists of 400 billion won in new funds and 400 billion won for extending existing loans.
Eligible recipients include companies in the marine and fisheries industry, local startups, technologically advanced SMEs, businesses creating local jobs, SMEs engaged in strategic industries supported by local governments, and long-term trading SMEs.
Each company can borrow up to 3 billion won, and to reduce financial costs, a maximum interest rate reduction of 1.0 percentage point will be offered.
A BNK Financial Group official stated, "We hope this special loan will help ease the management burden on local SMEs and small businesses during a time of increased funding demand ahead of Chuseok. We will continue to fulfill our role as a representative financial group in the region to ensure timely financial support where it is needed."
* This article has been translated by AI.
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