[Asia Economy Honam Reporting Headquarters Reporter Shin Dong-ho] Seo-gu, Gwangju Metropolitan City (District Mayor Kim I-gang) has launched additional financial support for local small business owners who are experiencing great difficulties due to prolonged COVID-19-related business downturns.
On the 4th, according to Seo-gu, a 'Special Guarantee Fund Additional Support Agreement for Small Business Owners' was signed with the attendance of Seo-gu Mayor Kim I-gang, Gwangju Bank President Song Jong-wook, and Gwangju Credit Guarantee Foundation Management Support Director Lee An-mook.
Following a contribution of 100 million KRW in the first half of the year, Seo-gu contributed an additional 200 million KRW received as an incentive for being an excellent institution in the Small Business Hope Loan program last year, and Gwangju Bank also contributed an additional 50 million KRW, thereby providing a total of 3 billion KRW in funds to local small business owners through the special guarantee of the Gwangju Credit Guarantee Foundation.
The support targets small business owners and self-employed individuals with business locations in Seo-gu, who can receive unsecured loans up to a maximum of 20 million KRW per company from Gwangju Bank through screening and guarantees by the Gwangju Credit Guarantee Foundation.
Notably, this agreement highlights that both the Seo-gu Office and the Seo-gu Council have united in their intention to support small business owners with the council's consent for the contribution, and that Seo-gu Office will support 4% interest for one year to reduce the interest burden on small business owners who take out loans.
Since 2013, Seo-gu has consistently contributed to special guarantees for small business owners, and so far, the scale of guaranteed loans has reached 878 cases totaling 13.8 billion KRW.
Small business owners in Seo-gu who wish to receive special guarantee loans can apply by visiting the Gwangju Credit Guarantee Foundation after a phone consultation, bringing their ID card, business registration certificate, and lease contract if applicable.
Seo-gu Mayor Kim I-gang said, “Through this additional support, I hope that the financial difficulties of more small business owners will be somewhat alleviated and that the depressed local economy will quickly stand tall.”
For more details, contact the Small and Medium Enterprise Support Team of the Seo-gu Office Economic Division or the Seo-gu branch of the Gwangju Credit Guarantee Foundation.
Asia Economy Honam Reporting Headquarters Reporter Shin Dong-ho baekok@asiae.co.kr
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