Loan Support at 1-2% Annual Interest for Facility Improvements Including Renovation of Restrooms in Business Facilities
First-Come, First-Served In-Person Applications at Yangcheon Health Center's Public Health and Hygiene Department from February 26 Until Funds Are Exhausted
Yangcheon-gu (District Mayor Lee Gi-jae) is providing a 200 million KRW scale "Food Promotion Fund Loan" to support facility improvement costs aimed at enhancing hygiene levels for food sanitation businesses struggling with high inflation and high interest rates.
The district will accept applications from February 26.
This year’s loan interest rate is set at 1-2%, maintaining last year’s rate to alleviate the economic burden on local business operators.
The support targets a total of 3,470 establishments, including general and casual restaurants, food manufacturing and processing businesses that have been operating in Yangcheon-gu for more than one year.
The loan types are divided into "Facility Improvement Funds" for repairs, renovations, and purchase of hygiene equipment for business sites, and "Restroom Facility Improvement Funds."
The "Facility Improvement Funds" are available to food manufacturing and processing businesses, general casual restaurants, bakeries, and catering service businesses, with a maximum loan of 50 million KRW per establishment at an annual interest rate of 2%, with a one-year grace period followed by three years of equal installment repayments. The "Restroom Facility Improvement Funds" target food service establishments, offering up to 20 million KRW per establishment at an annual interest rate of 1%, with a one-year grace period followed by two years of equal installment repayments.
Interested businesses can refer to the district office website to prepare the application form, business plan, and other required documents, and apply in person at the Yangcheon Health Center’s Health and Hygiene Division starting February 26. Applications will be accepted on a first-come, first-served basis until the fund is exhausted. Final approval will be determined based on collateral settings and other criteria according to the lending bank’s credit management regulations.
To foster a pleasant and safe dining culture, the district established the "Food Promotion Fund" in 2000, with loan support totaling 350 million KRW over the past 10 years.
Lee Gi-jae, Mayor of Yangcheon-gu, said, “I hope the Food Promotion Fund loan will help ease the operational burdens of food sanitation business owners facing difficulties due to high interest rates and economic downturn. We will continue to carefully manage the hygiene conditions of food sanitation businesses to ensure healthy and safe food is supplied to the local community.”
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