"Small Business Owners Using Secondary Financial Institutions, Apply for Interest Refunds"

On the 23rd, financial authorities announced that they will accept applications for interest cashback (refund) until the 31st for small business owners using the small and medium financial sector. Since the interest refund for the secondary financial sector is only available this year, this application period is the last opportunity.

Earlier, the Financial Services Commission has been implementing the 'Small and Medium Financial Sector Interest Refund' since March 18 to alleviate the interest burden on small business owners struggling with high loan interest rates from secondary financial institutions such as savings banks, mutual finance, and specialized credit finance companies.

The support targets are individual business owners and small corporations who had business loans with interest rates between 5% and 7% from the secondary financial sector as of December 31 last year. Once it is confirmed that interest has been paid for more than one year, the refund amount for one year (up to 1.5 million KRW per person) is paid at once during the upcoming quarterly refund period after the interest refund application.

The interest refund applied for this time can be received from the 9th to the 16th of next month.

Detailed information about the small and medium financial sector interest refund can be found on the websites of individual financial institutions. It is also available on the websites of the Financial Services Commission, Ministry of SMEs and Startups, Small and Medium Business Corporation, and Credit Information Service.