Hana Bank announced on June 29 that it will provide a total of 1.3 trillion won (approximately $1.3 billion) in inclusive financial support for small business owners.
The new product, "Only One CEO Loan," is designed for businesses located in traditional markets and alleyway commercial districts, offering emergency management stabilization funds without collateral or guarantees. The existing limit of 10 million won will be expanded to 300 billion won from July 1 through the end of the year.
Special interest rate benefits of 0.3 percentage points will be offered to small business owners facing operational difficulties or contributing to local economic revitalization, including: business owners under 39 years old, those with representatives aged 65 and older, businesses established within the last three years, businesses with declining sales, stores accepting Onnuri gift certificates, and establishments using public delivery apps.
Additionally, a program will be implemented to refund 10% of the total interest paid to small business owners who diligently repay their loans for one year, effectively easing their financial burden.
Furthermore, the "One More SOHO Success Ladder Loan," launched in May for diligent repayers, has been expanded in both eligibility and support scale. The loan program now includes diligent repayers currently in the principal and interest repayment phase, increasing the support amount from the previous limit of 300 billion won to 1 trillion won.
The loan interest rate is set in the mid-4% range, among the lowest for personal business credit loans in the banking sector. The maximum loan limit is 10 million won, available without collateral or guarantees.
Seo Yu-seok, Deputy Head of Hana Bank's Corporate Group, stated, "We aimed to expand our leading role in finance so that small business owners and the self-employed can take another leap forward. We will continue to promote practical inclusive finance to address financial blind spots and revitalize the local economy."
* This article has been translated by AI.
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