[Imsil=Asia Economy Honam Reporting Headquarters Reporter Park Nosik] Imsil-gun, Jeonbuk, will provide funds worth 500 million won to alleviate financial difficulties and stabilize management for small business owners.
The county announced on the 17th that it plans to implement the special guarantee loan and interest subsidy project for small business owners from this month until the funds are exhausted.
The special guarantee and interest subsidy project is a system that allows small business owners who have difficulty obtaining bank loans due to lack of collateral to receive low-interest loans when they need operating funds.
The county, Jeonbuk Credit Guarantee Foundation, and NH Nonghyup Imsil-gun Branch have a mutual agreement to guarantee ten times the contribution fund and subsidize the difference in loan interest.
To this end, the county has contributed 50 million won to the Jeonbuk Credit Guarantee Foundation this year and has also secured a budget of 50 million won for the interest subsidy project to reduce the burden of loan interest repayment.
This special guarantee support is expected to greatly help small-scale small business owners overcome difficulties in raising funds and stabilize their management.
The special guarantee support, which has been implemented since 2015, has so far supported 182 small business owners in the jurisdiction with a total of 3.5 billion won.
The support target is small business owners who have been operating for more than three months in the county, and support is available regardless of credit rating for all grades, with a support limit of up to 30 million won per business.
The loan interest of 3% is supported in a method of one-year grace period and four-year installment repayment.
Every Thursday at 2 p.m., on-site consultations by the Jeonbuk Credit Guarantee Foundation are held at the NH Nonghyup Bank Imsil-gun Branch, and after consultation and application for fund support, the loan is executed once the county issues a recommendation letter.
County Governor Shim Min said, "With the ongoing economic downturn and rising prices and interest rates, I am concerned that small business owners in the region are facing significant economic difficulties," adding, "I hope that through continuous promotion, the special guarantee support project will become a reliable pillar for small business owners experiencing financial difficulties due to the economic downturn and prolonged COVID-19."
Imsil=Asia Economy Honam Reporting Headquarters Reporter Park Nosik baekok@asiae.co.kr
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
