Chungnam Province announced on the 28th that it will provide a special management stabilization fund worth 5 billion KRW to alleviate the management difficulties of small and medium-sized enterprises (SMEs) across the region before the holidays.
The management stabilization fund will support up to 100 million KRW per company for those SMEs in Chungnam Province that have received manufacturing management stabilization loans and whose loan periods agreed with financial institutions have not yet expired.
The loan terms include a 2-year grace period with lump-sum repayment, and Chungnam Province plans to support 2 percentage points of the loan interest rate agreed between the company and the bank.
Applications can be made by consulting with a local bank by the 8th of next month and then applying through the Chungnam Job and Economy Promotion Agency's SME Fund System.
However, companies that have previously received the special holiday management stabilization fund (for Lunar New Year or Chuseok) and whose interest support expired less than one year ago are excluded from eligibility.
For more detailed information regarding the management stabilization fund support, please visit the Chungnam Province website or the Chungnam Job and Economy Promotion Agency's SME Fund System.
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