[DigitalToday reporter Ji-young Lee (이지영)] NH Nonghyup Bank said on Tuesday it will pursue about 2 trillion won in financial support in cooperation with 17 regional credit guarantee foundations nationwide to help stabilise management for small merchants and self-employed people struggling to raise funds.
After signing business agreements earlier this year with the regional credit guarantee foundations in Busan, North Chungcheong, Daejeon and Ulsan, it plans to complete additional agreements with 12 regional credit guarantee foundations in February.
Through this, it will expand the supply of funds to sole proprietors with insufficient collateral.
The financing support will be provided mainly through local government-backed agreement loans and policy loans for small merchants, aiming to ease the funding burden for small merchants and self-employed people nationwide.
Kang Tae-young (강태영), head of Nonghyup Bank, said, "Through cooperation with local governments and regional credit guarantee foundations, we are ensuring that funds for sole proprietors are supplied swiftly on the ground." He added, "We will continue to support small merchants and improve financial access through inclusive finance."
Ji-young Lee (이지영)
ljy@d-today.co.kr