Shinhan Bank said on Sunday it will provide inclusive finance support to small and midsized companies struggling with cash management as temporary funding demand rises ahead of the Lunar New Year holiday.
Through the support programme, Shinhan Bank will supply 15.1 trillion won in financing through March 13, including 6.1 trillion won in new loans and 9.0 trillion won in maturity extensions.
Eligible companies will be offered new loans of up to 1 billion won each within their funding needs. The bank will also provide financial support to ease cash burdens, including maturity extensions without requiring partial repayment of principal at maturity and deferrals of installment payments.
A Shinhan Bank official said the support was prepared to ease funding management burdens for SME customers ahead of the Lunar New Year holiday. The official said the bank will continue to do its best to practice inclusive finance for small and midsized companies and small merchants.
Ji-young Lee
ljy@d-today.co.kr