The agreement targets small exporters that have struggled to obtain financing because of low credit ratings or limited export track records. The partners said they will expand small-amount guarantees and help promote overseas market entry.
Under the deal, Shinhan Bank and the trade insurer will expand the lineup of non-face-to-face guaranteed loan products for low-credit small exporters, fully cover guarantee fees for companies using the “Light” guarantee, and raise guarantee limits for firms that repay direct guarantees on time.
With the expanded program, companies rated B- or higher by Korea Evaluation Data can apply for export promotion funds backed by a Korea Trade Insurance Corp. guarantee certificate, from a minimum of 10 million won to a maximum of 120 million won, depending on their rating.
“We improved the product structure to support small business owners with export capacity who faced limits on financing due to credit ratings or performance requirements,” a Shinhan Bank official said. The official added the bank will continue to expand practical funding support for small businesses in financial blind spots as part of its inclusive finance efforts.
* This article has been translated by AI.
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