Loans from the 'Individual Business Loan 119' hit US$ 425 bil. in H1, up 43.6% y/y
- 6 years ago
개인사업자대출119, 상반기 4800억 원 지원…전년대비 43%↑
The number of small business owners borrowing money using what's called "Individual Business Loan 119" has increased sharply in the first half of the year.
According to the Financial Supervisory Service, the total amount of lent via that program was more than 4-hundred-25 million U.S. dollars during H1, up over 43 percent compared to the same period last year.
The number of loans has also increased 40 percent on-year, with near 5-thousand-8-hundred cases recorded.
Created in 2013, "Individual Business Loan 119" is run by 15 Korean local banks, to help small business owners extend their loan maturity date... or cut interest rates.
The FSC attributed the increase to the minimum wage hike, which resulted in more of them having financial difficulties.
The number of small business owners borrowing money using what's called "Individual Business Loan 119" has increased sharply in the first half of the year.
According to the Financial Supervisory Service, the total amount of lent via that program was more than 4-hundred-25 million U.S. dollars during H1, up over 43 percent compared to the same period last year.
The number of loans has also increased 40 percent on-year, with near 5-thousand-8-hundred cases recorded.
Created in 2013, "Individual Business Loan 119" is run by 15 Korean local banks, to help small business owners extend their loan maturity date... or cut interest rates.
The FSC attributed the increase to the minimum wage hike, which resulted in more of them having financial difficulties.