Corona loan repayment extension until September… Amortization afterwards
[앵커]
As the difficulties for small and medium-sized businesses and small business owners continued due to the Corona 19 outbreak, the financial authorities decided to extend the loan maturity and delay repayment of interest for another six months until September.
Long-term and installment repayments are also allowed for the deferred principal and interest to prevent the burden of repayment after the grace period.
This is reporter Han Ji-i.
[기자]
Small and medium-sized merchants gather in front of the Seoul government office with pickets every day while discussing the difficult business environment caused by Corona 19.
They say they don’t have enough money to spend and they can’t borrow.
“The rental fee and maintenance fee were billed monthly, and I had to pay a minimum of 20 million won to a maximum of 100 million won rent and maintenance fees, and now I can’t get a loan anymore.”
As the difficulties of small and medium-sized merchants aggravated, the government decided to extend the loan maturity and interest repayment postponement measures until the end of this month for another six months until the end of September.
However, there is no delinquency such as arrears of principal and interest or capital erosion, or it should not be closed, and the target is only applied to existing loans received by March last year.
In addition, after the grace period at the end of September, the Financial Services Commission has devised an exit strategy so that individual borrowers can select the desired period and method to pay off the loan at a level of 1-2 times the existing monthly repayment amount.
In addition, five principles are applied to repayment of the deferred principal and interest, and it contains the content that interest incurred during the grace period is not charged again, and that the interim repayment fee is waived even if the borrower repays early.
On the other hand, regarding concerns that the third loan extension measure could increase the soundness risk of financial institutions, the Financial Services Commission emphasized that concerns about insolvency are limited, saying that the burden on financial companies is not high.
This is Yonhap News TV Han Ji-ee. ([email protected])
Yonhap News TV article inquiries and reports: katok/line jebo23
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