Loan Interest Rate 1.5% per Year ... 1-Year Grace Period, 4-Year Equal Installment Repayment
Up to 100 Million KRW for SMEs · Up to 50 Million KRW for Small Business Owners Available for Application
Dongdaemun-gu, Seoul (Mayor Ilpyeong Lee) will implement the ‘2024 Second Half Small and Medium Enterprise Development Fund Loan Project’ to alleviate financial difficulties of small and medium enterprises (SMEs) and small business owners and support stable management.
The loan scale for the second half of the year is 3.9 billion KRW, with an interest rate of ‘1.5% per annum’ and repayment terms of ‘1 year grace period followed by 4 years of equal installment repayments’.
The support targets are SMEs and small business owners with business locations in Dongdaemun-gu, and the business must have been registered for at least 6 months. SMEs can apply for loans up to 100 million KRW, and small business owners up to 50 million KRW.
The application start date is August 20. Unlike the previous first-come, first-served same-day registration, the process will be operated by reservation.
Applicants must first visit the Dongdaemun-gu Small Business Support Team (basement level 2 of the district office), receive consultation according to their ticket number, and then submit the required documents to the Small Business Support Team at the individually guided date and time.
Proxy submissions are not allowed; the loan applicant must visit in person. In the case of co-representatives, attendance of all representatives is required.
Ilpyeong Lee, Mayor of Dongdaemun-gu, said, “We hope this will help SMEs and small business owners who are struggling due to rising interest rates, and we will seek various support measures so that they do not lose hope and can continue their businesses.”
The ‘2024 Second Half Small and Medium Enterprise Development Fund Loan Project’ is conducted in cooperation with the Dongdaemun branch of the Credit Guarantee Foundation and the Dongdaemun-gu Office branch of Kookmin Bank.
For related information, please check the Dongdaemun-gu website (District News, Public Notices) or contact the Dongdaemun-gu Small Business Support Team.
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