Hapcheon-gun Supports SMEs and Small Business Owners with Up to 500 Million KRW

Hapcheon County Office Building Exterior

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Hapcheon-gun, Gyeongnam Province, has taken measures to support small and medium-sized enterprises (SMEs) and small business owners facing difficulties.

On the 26th, Hapcheon-gun announced that it will accept applications for the '2022 First Half Hapcheon-gun SME and Small Business Owner Development Fund' loan support until the end of the year.

The scale of the 2022 first half regular loan support is 2.5 billion KRW for the SME development fund and 4 billion KRW for the small business owner development fund. Eligible applicants are SMEs or small business owners with business locations in Hapcheon-gun.

Once selected as a loan-supported company, SMEs and small business owners who receive the loan can receive 3% of the interest on the loan (interest subsidy) supported by the county for five years.

The loan limit is up to 500 million KRW for SMEs and up to 50 million KRW for small business owners, with repayment conditions of a 2-year grace period followed by 3 years of equal installments.

Companies wishing to apply can visit financial institutions affiliated with the county (NH Nonghyup Bank Hapcheon Branch, Gyeongnam Bank Hapcheon Branch, Gangyang Saemaeul Geumgo, Hapcheon Credit Union, Hapcheon Livestock Cooperative, Hapcheon County Forestry Cooperative, etc.) to submit their applications.

County Governor Moon Jun-hee said, "Loans amounting to 14.7 billion KRW have been decided this year, with interest expected to reach about 500 million KRW. I hope this fund will be used as a valuable catalyst for the recovery and stabilization of our county's economy during the gradual return to normal life."