NH Nonghyup Bank headquarters. /Courtesy of NH Nonghyup Bank

NongHyup Bank announced on the 13th that it plans to support a total of 17 trillion won in 2025 for special credit guarantee certificate loans, holiday funds for the Lunar New Year, and more, to assist small and medium-sized enterprises and small business owners.

NongHyup Bank will execute early a total of 110 billion won in special contributions and support a guarantee loan agreement worth 4.1 trillion won in partnership with the Credit Guarantee Fund, Technology Guarantee Fund, Korea Credit Guarantee Foundation, and regional credit guarantee foundations.

NongHyup Bank will also strengthen guarantee support for promising and future growth small and medium-sized enterprises in collaboration with the Credit Guarantee Fund and Technology Guarantee Fund. Support for small business owners who are using the credit guarantee foundation for the first time will also be expanded.

In addition, to enhance liquidity support for small and medium-sized enterprises for the Lunar New Year, 13 trillion won will be provided until Feb. 13. The support includes 5 trillion won for new loans and 8 trillion won for loan extensions, targeting small and medium-sized enterprise loans, including those for individual business owners, during the support period.