[DigitalToday reporter Ji-young Lee] KB Kookmin Bank will provide a total of 15.2 trillion won in funding support for small and medium-sized enterprises and small merchants ahead of the Chuseok holiday.
KB Kookmin Bank said on Tuesday it will supply special funds to support the management stability of SMEs and small merchants facing difficulties due to a temporary rise in funding demand ahead of the holiday.
The support totals 15.2 trillion won, comprising 6.2 trillion won in new loans and 9 trillion won in maturity extensions.
The amount available per company is up to 1 billion won within the scope of required funds.
For SMEs and small merchants with existing loans reaching maturity, the bank will allow maturity extensions without requiring partial principal repayment. It will also provide financial support such as deferring instalment repayments.
The bank will also offer interest rate discounts of up to 1.5 percentage points for new loans or when extending maturities on existing loans.
A KB Kookmin Bank official said, "We prepared this support to ease funding difficulties and help stabilise management for SMEs and small merchants facing challenges in managing funds ahead of the Chuseok holiday."
Ji-young Lee
ljy@d-today.co.kr