Business · Economy · 2 hrs ago
Guro District to Back 6.25 Billion Won in Loans for Local Businesses
Guro District in Seoul will support local businesses with special loan guarantees worth 6.25 billion won.
The plan is for small and medium-sized companies and small businesses that have trouble borrowing because they lack enough collateral.
Shinhan Bank and KakaoBank will contribute a total of 500 million won to the Seoul Credit Guarantee Foundation.
The foundation will use those funds to provide the guarantees to eligible businesses based in Guro District.
Applicants must pass the foundation’s review and receive a special credit guarantee certificate before borrowing from a participating bank.
The guarantees are intended to ease access to financing and help local businesses stay financially stable.
Businesses can contact the foundation’s Guro center for details on application timing and procedures.
Guro District will support 6.25 billion won in special loan guarantees for local small and medium-sized businesses and small business owners.
The Seoul Credit Guarantee Foundation will provide the guarantees using 500 million won contributed by Shinhan Bank and KakaoBank.
Eligible businesses must be located in Guro District and pass the foundation’s review to receive a special credit guarantee certificate.
The certificate will allow them to borrow from the participating financial institutions.
The agreement is intended to help businesses that lack collateral and face difficulty securing funds.
- Who
- Guro District, Shinhan Bank, KakaoBank and the Seoul Credit Guarantee Foundation.
- What
- They agreed to provide 6.25 billion won in special loan guarantees for eligible local businesses.
- When
- The agreement was signed on October 28, 2026, and announced on October 29.
- Where
- Guro District, Seoul, South Korea.
- Why
- To help local businesses that lack collateral and have difficulty securing funds.
This story does not have two clearly opposing sides.
Guro District, the two banks and the Seoul Credit Guarantee Foundation signed the agreement.
Guro District announced that the agreement would support 6.25 billion won in special guarantees.
- Total guarantee support
- 6.25 billion won
- Shinhan Bank contribution
- 200 million won
- KakaoBank contribution
- 300 million won
- Eligible applicants
- Small and medium-sized businesses and small business owners located in Guro District
- Enquiries
- Seoul Credit Guarantee Foundation Guro General Center: 1577-6119
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What people are saying
We will continue to strengthen cooperation with financial institutions to support the management stability of local businesses and the revitalization of the local economy.