Homeplus-Affected Small Businesses: Repayment Deferral Application Procedures Differ for Direct and Bank-Intermediated Loans
Small business owners affected by Homeplus must first check whether their existing policy loan is a direct loan or a bank-intermediated loan when applying for repayment deferral. Direct loan borrowers apply through the Small Business Policy Funds website and then execute a revised loan agreement, while bank-intermediated loan borrowers must obtain a confirmation certificate and complete additional procedures with their financial institution or other relevant organization. In particular, borrowers with guarantee-backed bank-intermediated loans may need to extend the guarantee period through the guarantee institution before visiting their bank.