Opening of Gwangjin-type Small Business Support Center

Opening of 'Gwangjin-type Small Business Support Center' accepting applications for 'Gwangjin-type Emergency Operating Funds' at district office parking lot on the morning of the 1st... Support includes loans for low credit rating individuals, 1-year interest-free, and guarantee fee exemption

[Asia Economy Reporter Jongil Park] Gwangjin-gu (Mayor Kim Seongap) established and began operating the ‘Gwangjin-type Small Business Support Center’ in the district office parking lot on the 1st to provide one-stop support for the ‘Gwangjin-type Emergency Operating Funds.’

The ‘Gwangjin-type Small Business Support Center’ is a window set up to facilitate smooth applications for the ‘Gwangjin-type Emergency Operating Funds’ project, which allows small business owners struggling due to COVID-19 to receive loans easily and quickly.

The center offers a one-stop service where comprehensive consultations can be received in one place, with participation from the Seoul Credit Guarantee Foundation, Kookmin Bank, and relevant Gwangjin-gu departments (Local Economy Division, Job Policy Division).

The ‘Gwangjin-type Emergency Operating Funds’ allow loans to be granted upon issuance of a guarantee certificate from the Seoul Credit Guarantee Foundation, and even low credit rating individuals can receive support ranging from 10 million to 30 million KRW.

Additionally, to minimize the burden on small business owners receiving loans, the district is the first nationwide to offer special loans with no interest or guarantee fees until funds are exhausted. Accordingly, the district will provide interest-free loans for one year to new borrowers who apply from April to July, and will also support loan interest for existing borrowers from May until April of next year.

The support target is small business owners with annual sales of 200 million KRW or less, with conditions of an annual interest rate of 1.5% and a repayment plan of a 1-year grace period followed by 3 years of equal installments.

Those wishing to apply can make a phone reservation at the Gwangjin-type Small Business Support Center (☎450-7313) and visit with the required documents to receive consultation and loans.

Kim Seongap, Mayor of Gwangjin-gu, said, “This ‘Gwangjin-type Emergency Operating Funds’ is differentiated by its easy and fast loan availability, with no interest and no guarantee fees,” and added, “We have prepared a separate center in the district office parking lot so that merchants facing difficulties can receive support more easily, and we hope for active participation.”