Dongdaemun-gu Supports SME Growth Fund Loans Worth 3 Billion Won

Fixed Interest Rate 1.5% Per Year, Loans Up to 30 Million KRW for Small Business Owners, Up to 100 Million KRW for SMEs

Dongdaemun-gu (District Mayor Ilpyeong Lee) will implement the second half-year Small and Medium Enterprise (SME) Development Fund loan support starting September 4th, in collaboration with the Seoul Credit Guarantee Foundation Dongdaemun Branch and Kookmin Bank, to stabilize the management and alleviate financial difficulties of local SMEs and small business owners.

The total loan amount is 3 billion KRW, provided at a low fixed interest rate (1.5% per annum) to support the self-reliance of micro-enterprises. The repayment period is 5 years in total, with a 1-year grace period followed by 4 years of equal installment repayments.

The support targets small business owners and SMEs who have been registered for more than 6 months and have business locations in Dongdaemun-gu. Small business owners can apply for loans up to 30 million KRW per company, and SMEs can apply for up to 100 million KRW per company.

Small business owners and SMEs wishing to apply for loans can download the application form from the Dongdaemun-gu website’s Notices and Announcements section, fill it out, and submit it along with the required documents in person at the Small Business Support Team on the B2 floor of the district office from September 4th to 8th. Loan applications will be processed on a first-come, first-served basis and will close early once funds are exhausted.

Submitted loan applications will be reviewed by the SME Development Fund Operation Deliberation Committee to decide on support eligibility, and the loan amount will be finally determined within the repayment capacity of the selected companies.

For detailed information on the application process and required documents, please check the district website’s news or Notices and Announcements section, or contact the Dongdaemun-gu Small Business Support Team.

Ilpyeong Lee, Mayor of Dongdaemun-gu, stated, “This loan support program has been prepared to assist small business owners facing financial difficulties due to the economic downturn,” and added, “We will continue to explore various support measures so that small business owners do not lose hope and can sustain their businesses.”