Applications Accepted from the 13th
Up to 50 Million Won in Support
Wanju County in North Jeolla Province announced on the 7th that it will launch the 'Hope The Dream Special Guarantee Program' starting from the 13th to support small business owners struggling with financial management.
The special guarantee program is a system supported by an agreement between Wanju County and the Jeonbuk Credit Guarantee Foundation, which allows small business owners with low credit ratings and insufficient collateral to receive loans at low interest rates from regular banks through the Jeonbuk Credit Guarantee Foundation when they need operating funds.
The county plans to provide a special guarantee totaling 3.75 billion won, which is 12.5 times the 300 million won contributed to the Jeonbuk Credit Guarantee Foundation.
The program is available to small business owners who have operated a business for more than three months after registering their business and are located within Wanju County, with a credit rating of grade 7 or higher. Eligible applicants can receive up to 50 million won, and 3% of the loan interest will be subsidized for three years.
The program will continue until funds are exhausted, and small business owners who wish to apply can visit the Wanju branch of the Jeonbuk Credit Guarantee Foundation.
County Governor Yoo Heetae said, "We will spare no practical support so that small business owners do not lose hope and can continue their businesses despite the difficult economic situation," adding, "I hope this special guarantee program will become a strong pillar for small business owners and serve as a foundation for the recovery of the local economy."
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