Hokuyo Bank Launches First Loan Product for Startups

Previously, Hokuyo Bank supported startups primarily through fund investments. However, recognizing the growing demand for loans among its existing investment recipients, the bank has introduced the "Hokuyo Startup Loan."

The new loan product aims to provide financing to approximately 10 startups, totaling about 500 million yen, during the fiscal year 2024. The "Hokuyo Startup Loan" offers a maximum loan amount of 80 million yen. Eligible recipients are startups established within the past 10 years that are developing new business models.

The bank will primarily target startups in the "middle" and "later" stages of business expansion, providing them with working capital and funds for equipment investment.