BNK Busan Bank implements a 40 billion won regional cooperation win-win fund loan with HUG

(Busan = Yonhap News) Reporter Soo-hee Oh = BNK Busan Bank announced on the 30th that it will implement a 'Regional Cooperation Win-Win Fund Loan' worth 40 billion won from October 1 to ease the financial burden of small and medium-sized enterprises in the Bu, Ul, and Gyeonggi regions with the Housing and Urban Guarantee Corporation (HUG) and revitalize the local economy.

This win-win fund loan was designed to supply necessary funds to local small and medium-sized businesses and support stable management and growth by lowering the burden of financial costs.

Those eligible for support are small and medium-sized businesses located in Bu, Ul, and Gyeonggi that have been in business for more than two years, including those engaged in housing construction, start-ups with technology, young companies, companies operating in artificial intelligence (AI), and companies operating in the marine and fisheries industry.

Supporting companies are provided with preferential interest rates of up to 1.7%p.

The support limit for each company is up to 500 million won, and companies engaged in the construction industry are supported up to 700 million won.

Of the total loan amount, 5 billion won will be allocated preferentially to companies engaged in the construction industry, helping to ease the financial burden on the local housing construction industry.

Prior to the launch of this product, Busan Bank and Korea Housing and Urban Guarantee Corporation signed the 'Regional Cooperation Win-Win Fund Business Agreement for Revitalizing the Local Economy' on the 29th and decided to join forces to provide smooth financial support to local companies and expand win-win cooperation.

Kim Seong-ju, President of BNK Busan Bank, said, “We hope that the win-win fund loan will help reduce the burden of financial costs on local small and medium-sized businesses and establish a foundation for stable growth,” and added, “We will continue to expand financial support that is actually helpful to local companies.”