Saemaul Geumgo to Supply 200 Billion Won in Low-Interest Loans to Small Businesses

Saemaul Geumgo has launched a support program for 200 billion won in low-interest loans to alleviate the burden of high interest rates for small business owners and small enterprises in local communities. This loan initiative operates under a public-private partnership structure involving local governments and regional credit guarantee foundations. The mechanism is designed so that Saemaul Geumgo lends funds to the foundation, which in turn provides guarantees, while the local government subsidizes the interest, ensuring that money flows to small businesses at lower rates.

Saemaul Geumgo processed approximately 80 billion won in low-interest loans last year after contributing 6 billion won. This year, the organization has expanded its contribution to 16.5 billion won. With the participation of 526 Saemaul Geumgo branches nationwide, the total support scale has been increased to approximately 200 billion won.

Regional support efforts are also underway. In Jeju, a partnership was established with the Jeju Provincial Government and the Jeju Regional Credit Guarantee Foundation to provide 10 billion won in low-interest refinancing loans for small business owners with moderate-to-low credit scores. The aim is to reduce the interest burden for small businesses currently utilizing high-interest loans. Additionally, a 15 billion won special guarantee loan product (operating funds) for small businesses is scheduled to be launched in September.

The National Federation of Saemaul Geumgo stated, "As a cooperative that coexists with the region, we are promoting this initiative to reduce the financial burden on small businesses and SMEs." They added, "We will continue to provide support tailored to the financial needs of the region and fulfill our role as a financial institution that grows together with the community."