[Asia Economy (Sejong) Reporter Jeong Il-woong] Sejong City will operate an additional 6 billion KRW in support funds for small business owners through the second half supplementary budget.
On the 1st, the city announced that following the 15 billion KRW support provided in the first half to respond to the novel coronavirus infection (COVID-19), it secured additional budget in the second half supplementary budget to support local small business owners.
The support target is small business owners operating businesses within Sejong, and through the Chungnam Credit Guarantee Foundation, loans of up to 30 million KRW per company can be supported.
In this case, if the repayment condition is a 2-year grace period with lump-sum repayment, the city supports 2 percentage points off the financial institution loan interest rate; if it is a 1-year grace period with 2-year equal installments repayment, 1.75 percentage points off the loan interest rate are supported.
For other detailed information regarding the application for small business support funds, guidance can be obtained through the Gongju and Cheonan branches of the Chungnam Credit Guarantee Foundation.
Kim Hoe-san, head of the city’s Corporate Support Division, said, “We hope that the additional funding support in the second half will help alleviate the management difficulties of local small business owners,” and added, “The city will continue to monitor funding demand and respond promptly to resolve the management difficulties of small business owners.”
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