NH NongHyup Bank said on Wednesday it will launch its strategic product, the "NH Future Growth Corporate Loan," on Thursday.
The NH Future Growth Corporate Loan supports incorporated firms and sole proprietors subject to corporate screening that operate in future growth industries designated by the bank. It plans to adjust eligible sectors flexibly by monitoring changes in the market environment.
To focus screening on growth potential, the bank created the "NH Future Growth Rating," a screening system that strengthens non-financial factors such as technology certifications including patent rights and technology evaluation grades.
It offers preferential interest rates of up to 2.30 percentage points. For facility funding outside the Seoul metropolitan area, it will raise the loan-to-value (LTV) ratio by up to an additional 30 percentage points in line with its balanced growth strategy.
Chief Executive Kang Tae-young said, "This product goes beyond simply supplying funds and is finance that grows the future value of companies with technological capability and growth potential together." He said, "NH NongHyup Bank will lead productive finance and fulfill its responsibility and role in fostering new national growth engines and revitalising regional economies."
Lee Ji-young
ljy@d-today.co.kr