IBK Industrial Bank has introduced a specialized fixed-rate loan product worth 1 trillion won to alleviate the financial burden on small and medium-sized enterprises (SMEs) with low to moderate credit ratings.
On August 3, the bank announced the launch of the 'Hope On Fixed-Rate Loan.'
The loan limits are set at a maximum of 1 billion won for operating funds and 4 billion won for facility funds. Borrowers can also benefit from a rate reduction of up to 1 percentage point within the range of fixed and variable rates.
To adapt to falling interest rates, the bank has provided an option to convert the fixed-rate loan to a variable rate.
An IBK Industrial Bank official stated, "Through this product, we aim to ease the financial burden on SMEs with low to moderate credit ratings and support their growth into strong enterprises. We will continue to expand inclusive financial support as a reliable growth ladder for SMEs."
On August 3, the bank announced the launch of the 'Hope On Fixed-Rate Loan.'
The loan limits are set at a maximum of 1 billion won for operating funds and 4 billion won for facility funds. Borrowers can also benefit from a rate reduction of up to 1 percentage point within the range of fixed and variable rates.
To adapt to falling interest rates, the bank has provided an option to convert the fixed-rate loan to a variable rate.
An IBK Industrial Bank official stated, "Through this product, we aim to ease the financial burden on SMEs with low to moderate credit ratings and support their growth into strong enterprises. We will continue to expand inclusive financial support as a reliable growth ladder for SMEs."
* This article has been translated by AI.
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