Anyang City to Provide 30 Billion Won in Financial Support to SMEs Over 3 Years... Partnership with IBK Bank

【Financial News Anyang=Jang Chung-sik Reporter】Gyeonggi-do Anyang City announced on the 29th that it has signed a 'SME Companion Support' business agreement with IBK Bank to support policy funds for local SMEs.
This agreement aims to reduce the financial burden on local SMEs experiencing difficulties due to worsening internal and external business environments, with the city and IBK Bank creating a total loan fund of 30 billion won over 3 years.
The city will support an amount equivalent to 1.5~2% of the loan interest rate, and IBK Bank will cooperate with the Credit Guarantee Fund, Technology Guarantee Fund, and Gyeonggi Credit Guarantee Foundation to support guarantee fees required for issuing loan guarantees up to 1.2%.
Through this agreement, local SMEs will be able to reduce financial costs by receiving guarantee fee support in addition to the existing interest subsidy support project.
The target companies for support are 563 industries among local SMEs, including manufacturing, knowledge and information service industries, and must use the funds for purchasing raw or subsidiary materials, product production, market development, technology development, labor costs, etc.
The maximum loan limit per company is 500 million won, and the support period is up to 3 years.
The agreement will be implemented from June this year, and applications can be made at any time at all IBK Bank branches until the funds are exhausted.
Detailed information can be found on the city's website announcement section, and loan consultations can be received at all IBK Bank branches from June 2.
Mayor Choi Dae-ho said, "I thank IBK Bank for proposing the SME Companion Support project," and "We will continue to prepare various support measures to resolve the difficulties of local companies and enhance their self-reliance capabilities."

jjang@fnnews.com Jang Chung-sik Reporter