Up to 20 Million KRW Per Business...
Loans Available for Up to Five Years
Seo-gu District of Gwangju Metropolitan City (District Mayor Kim Ikang) announced on the 24th that it will provide a special guarantee program worth 4.2 billion KRW to support small business owners struggling with prolonged high inflation, high exchange rates, and high interest rates.
On this day, Seo-gu held a signing ceremony for the special guarantee support agreement for small business owners, attended by Seo-gu District Mayor Kim Ikang, Gwangju Bank Vice President Lee Sangchae, and Credit Guarantee Foundation Director Kim Guinam.
Accordingly, Seo-gu District Office will contribute 200 million KRW and Gwangju Bank will contribute 150 million KRW to the Gwangju Credit Guarantee Foundation, which will provide a total of 4.2 billion KRW in credit guarantees.
The special guarantee is available to small business owners and self-employed individuals with business locations in Seo-gu. After screening and guarantee approval by the Gwangju Credit Guarantee Foundation, they can receive unsecured loans of up to 20 million KRW per business through Gwangju Bank for up to five years. Seo-gu will also support loan interest rates up to 5% for a maximum of one year.
For more details, inquiries can be made to the Seo-gu Small Business Management Support Center or the Seo-gu branch of the Gwangju Credit Guarantee Foundation.
District Mayor Kim Ikang stated, "I hope that small business owners, who are being pushed to the brink, will find some relief from financial difficulties and be able to manage their businesses more stably through this special guarantee program," adding, "We will continue to pursue diverse, impactful policies so that small business owners can truly experience happiness."
Meanwhile, last year Seo-gu supported a total of 4.2 billion KRW to 225 small business owners through the special guarantee loan program.
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