Loan extension for small and medium-sized business people
The financial authorities will
extend the loan maturity and interest
repayment postponement measures by
six months for SMEs and small
business owners affected by Corona 19.
The Financial Services Commission
announced on the 27th that it would extend
these measures by six months until the
end of March next year by synthesizing
the impact of Corona 19 on the
real economy and
opinions of the financial industry.
Due to the prolonged corona 19
, it was considered that the difficulties
of mid-priced and small business owners
continue, and the financial burden is not large given
the deferred interest repayment performance.
Small and medium-sized enterprises
and small business owners who have already
applied for a maturity extension and interest
repayment postponement once again can apply
for a maturity extension and interest repayment
postponement once the maturity
reaches within the extended period.
For example, a business operator
whose loan maturity was extended until
the end of November, when the loan
maturity arrived at the end of May, can
apply for one more extension and
extend the repayment of the
loan principal until at least May next year.
In addition, the interpretation of laws
and regulations related to maintaining
the existing asset quality classification
criteria for extended maturity and
repayment deferred loans is maintained.
to support mid-sized companies that have
supported the extension of the maturity
of loans and guarantees until the end
of March next year.
Inquiries: Banking Division,
Financial Services Commission (02-2100-2951)