Dongdaemun-gu Supports 4 Billion Won Loan Financing in Cooperation with Commercial Banks

Loan Applications Start from June 3... 1% Interest Support by District for Bank Variable Rates
Additional 1.8% Interest Support from Seoul City for Collateral as Credit Guarantee Certificate
Up to 100 Million Won per Business Regardless of SME or Small Business

Dongdaemun-gu, Seoul (District Mayor Lee Pil-hyung) will implement a loan support program in cooperation with the Dongdaemun branch of the Seoul Credit Guarantee Foundation and Kookmin Bank, providing 4 billion KRW in commercial bank cooperative funds to stabilize management and alleviate financial difficulties for local small and medium-sized enterprises (SMEs) and small business owners struggling due to rising interest rates.

The support targets SMEs and small business owners with more than six months of business experience located in Dongdaemun-gu, who can apply for loans up to 100 million KRW per company.

The interest rate will be based on the bank’s variable rate. The district will provide a 1% interest subsidy, and if the collateral is a credit guarantee certificate, the Seoul Metropolitan Government will additionally support 1.8% interest. The repayment terms are a one-year grace period followed by three years of equal installment repayments.

Loan applications will begin on June 3 and will be operated by reservation rather than the previous first-come, first-served basis on the same day.

Applicants should first visit the Dongdaemun-gu Small Business Support Team (located on the basement level 2 of the district office) to receive guidance on the required documents according to the consultation number ticket, then submit the prepared documents to the Small Business Support Team at the individually designated time.

For more information, check the district website’s news and public notices or contact the Dongdaemun-gu Small Business Support Team.