Sancheong-gun Eases Financial Difficulties for Small Business Owners... Support Confirmed for Development Fund Loans

Support of 10.3 Billion KRW Provided to 141 Companies in the First Half of the Year

Sancheong County Office Signstone

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Sancheong-gun, Gyeongnam Province, is promoting a development fund loan support project to help small and medium-sized enterprises (SMEs) and small business owners who are struggling due to the resurgence of COVID-19 and interest rate hikes.

On the 3rd, the county confirmed the scale of the development fund loan support project for SMEs and small business owners in the second half of this year to 46 companies and 5.2 billion KRW.

The county accepted applications through financial institutions that signed agreements with Sancheong-gun from July 11 to 15, and finalized the support targets after review.

This project mainly supports loans of development funds to stabilize the management of SMEs and small business owners, while providing 3.5% interest subsidy (secondary interest subsidy) on the loan amount.

The county supported loans worth 10.32 billion KRW to 141 companies in the first half of this year.

County Governor Lee Seung-hwa said, “As interest rates are rising sharply, it is expected that receiving the secondary interest subsidy will reduce the interest burden on SMEs and small business owners,” and added, “We will continue to strive for timely support to provide practical help in resolving the financial difficulties of small business owners.”

Meanwhile, Sancheong-gun is conducting various support projects to help stabilize the management of SMEs and small business owners in addition to the development fund loan support project.

Representative measures include the small business management environment improvement project, industrial complex enterprise environment improvement support, traditional market environment improvement and payback events, Sancheong Love Gift Certificate discount sales, and expansion of Zero Pay, all aimed at revitalizing the local economy.