Among the total support amount of 2.5 billion KRW this year, 2 billion KRW is planned for early support in the first half... In-person applications accepted from February 3 to 14 at Gwanak-gu Office Regional Commercial Activation Division
[Asia Economy Reporter Park Jong-il] Gwanak-gu (Mayor Park Jun-hee) will promote the ‘2020 Gwanak-gu Small and Medium Enterprise Development Fund Loan Support’ from February 3 to 14 to ease the management burden of small and medium-sized enterprises and small business owners and assist with fund management.
This year’s support scale is a total of 2.5 billion KRW, which is 500 million KRW more than last year. Of this, 2 billion KRW will be provided early in the first half of the year to help resolve the financial difficulties of small and medium-sized enterprises and small business owners struggling due to the economic downturn.
The loan interest rate is 1.5% per annum, the loan limit is up to 200 million KRW per company (100 million KRW for facilities), and the repayment period is a 2-year grace period followed by 3 years of equal installment repayments.
The support targets are small and medium-sized enterprises and small business owners who have a business place in Gwanak-gu, have been registered for more than 6 months, and have collateral ability according to bank credit regulations such as real estate. However, industries such as finance, real estate, lodging, bars, tobacco, liquor, and other luxury, entertainment, and gambling industries are excluded.
Applications can be submitted by visiting the Gwanak-gu Office Regional Commercial Activation Division by February 14 after pre-confirming the collateral evaluation amount at Woori Bank Gwanak-gu Office Branch and Seoul Credit Guarantee Foundation Gwanak Branch, and preparing the application form, business plan, business registration certificate, and financial statements for the last 3 years.
Afterward, the district will select loan priority and recipients through the Small and Medium Enterprise Development Fund Operation Committee and plans to start loan support from early March.
Last year, Gwanak-gu supported 26 companies with 1.83 billion KRW, and to date has supported a total of 357 companies with 34 billion KRW. This year, the loan support scale will be expanded to revitalize the local economy.
Mayor Park Jun-hee said, “I hope the Small and Medium Enterprise Development Fund loan support will greatly help small and medium-sized enterprises and small business owners who are facing difficulties both internally and externally to overcome their financial hardships,” and added, “We will devote all our efforts to creating a business-friendly environment for small business owners and SMEs, which form the foundation of the local economy.”
For more details about the ‘2020 Gwanak-gu Small and Medium Enterprise Development Fund Loan Support,’ please check the Gwanak-gu website (News & Notices → Announcements) or contact the Regional Commercial Activation Division (☎879-5745).
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