Gyeonggi Province will provide up to 1 billion KRW in operating funds per company to create a stable management environment for 'social economy organizations' with weak financial power.
On the 11th, Gyeonggi Province announced that it will recruit companies participating in the second half of the 'Social Economy Organization Cooperative Asset Support Project' from October 2 to 8, targeting social economy organizations in the province that are promoting community revitalization or shared and collaborative projects.
The loan limit is up to 1 billion KRW per location, supporting up to 90% of the purchase funds stated in the sales contract, with a fixed interest rate of 2.0% per annum.
The loan period can be chosen between a 4-year grace period followed by 6 years of equal repayments or a 5-year grace period followed by 10 years of equal repayments. The supported funds can only be used for purchasing real estate necessary for business activities, machinery, equipment, or facilities.
Gyeonggi Province plans to support about 2 billion KRW excluding the first loan support from the total project budget of 4 billion KRW this year and will select supported companies by holding the 'Gyeonggi Province Cooperative Asset Support Project Business Selection Review Committee.'
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