Jindo-gun Implements Special Guarantee Support Program for Small Business Owners

Maximum Loan of 30 Million Won Per Person, Guarantee Period Within 5 Years

[Jindo=Asia Economy Honam Reporting Headquarters Reporter Choi Jae-kyung] Jindo-gun, Jeollanam-do, is promoting a special guarantee support project for small business owners worth 100 million KRW to help alleviate the management and financial difficulties of small business owners who have suffered direct and indirect damage due to the prolonged COVID-19 pandemic and to revitalize the local economy.

The special guarantee for small business owners is a system that supports loans through special guarantees for small business owners who have difficulty obtaining loans due to lack of collateral.

Every year, the funds are exhausted early, serving as a major support for stabilizing the management of small business owners.

When Jindo-gun invests 100 million KRW, the Jeonnam Credit Guarantee Foundation supports loan guarantees for small business owners worth 1 billion KRW, which is ten times the investment amount.

The support target is small business owners who have had a business place and address in Jindo-gun for more than one year as of the application date. However, companies with overdue loans or those that are temporarily closed are excluded.

The support limit is up to 30 million KRW per company, with a guarantee period of up to 5 years, and applications can be made throughout the year until the guarantee limit is exhausted.

Applications for the Jindo-gun special guarantee for small business owners can be submitted by visiting the Haenam branch of the Jeonnam Credit Guarantee Foundation, and consultation is also available every Thursday at the NongHyup Bank Jindo-gun branch.

A representative from the Jindo-gun Economic Marketing Division said, “We hope that the special guarantee fund support for small business owners will be a great help to small business owners experiencing financial difficulties due to the prolonged COVID-19 pandemic,” and added, “We will continue to make efforts to help small business owners overcome crises.”