Gyeongnam Hamyang-gun to Release Development Funds for SMEs and Small Business Owners in the First Half of the Year

Support up to 300 million KRW for SMEs and up to 50 million KRW for small business owners

Hamyang County Office.

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Hamyang-gun, Gyeongnam Province, has finalized the support plan for fostering funds for small and medium-sized enterprises (SMEs) and small business owners in the first half of this year to alleviate their financial difficulties, and will accept applications starting from the 20th.

The total support amount is 7 billion KRW, with an annual interest subsidy of 3% provided over four years. The repayment method is a 2-year grace period followed by 2 years of equal installments for general operating funds and small business start-up and lease funds, and a 1-year grace period followed by 3 years of equal installments for SME technology development funds and facility modernization funds.

The support targets are SMEs and small business owners registered in Hamyang-gun. Businesses that have reported suspension or closure, have overdue local taxes, or belong to the bar business, game centers, finance and insurance industries, golf courses, or luxury and entertainment sectors are excluded.

Applications are accepted from January 20 to February 11. Applicants should bring their business registration certificate to the financial institutions handling the loans (Nonghyup County Branch, Gyeongnam Bank, Saemaeul Geumgo, Forestry Cooperative, Credit Union), consult about the loan, and then submit the loan application form and business plan.

A county official stated, “We have eased the support conditions to provide financial assistance to SMEs and small business owners struggling due to COVID-19, hoping to help even a little.”