Ulju-gun, Ulsan, will provide the second round of 2023 management stabilization funds to alleviate the loan interest burden of local small business owners facing management difficulties due to interest rate hikes.
The management stabilization fund is a program that supports part of the interest when small business owners with workplaces in Ulju-gun receive bank loans.
This year, the total loan scale for the management stabilization fund is 30 billion KRW, with 10 billion KRW supported in the first round in April, 10 billion KRW in the second round in June, and 10 billion KRW planned for the third round in September.
Loans of up to 60 million KRW per company are available, and an interest differential subsidy of 3% will be provided for three years.
Applications will be accepted on a first-come, first-served basis from 9 a.m. on Wednesday, the 14th, via the Ulsan Credit Guarantee Foundation website, and will close once the funds are exhausted.
For more details, refer to the announcement on the Ulju-gun website or contact the Ulsan Credit Guarantee Foundation.
An official from Ulju-gun stated, “We hope this management stabilization fund support will provide tangible help to local small business owners struggling with economic downturn and rising interest rates,” adding, “We will continue to do our best to ensure the management stability of local small business owners.”
Ulju-gun has expanded the loan scale for small business management stabilization funds from 20 billion KRW last year to 30 billion KRW this year. Additionally, the interest differential support rate has been increased from 2.5% to 3%, and the support period extended from two years to three years, significantly enhancing the benefits.
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