Fixed Annual Interest Rate of 1.5%, One-Year Grace Period, Four-Year Repayment... Relief for Financial Difficulties Expected
Applications Accepted at Dongdaemun-gu Small Business Support Center Starting April 21
Dongdaemun-gu (District Mayor Lee Pil-hyung) announced on the 18th that it will implement the 'Small and Medium Enterprise Development Fund Loan Support Project' worth a total of 3 billion KRW starting from April 21 to assist small and medium-sized enterprises (SMEs) and small business owners in the district who are struggling with management due to high inflation and high interest rates.
The support targets are SMEs and small business owners with business locations in Dongdaemun-gu, and they must have been registered for more than six months after business registration.
The loan conditions are ▲up to 100 million KRW for SMEs ▲up to 50 million KRW for small business owners, with a fixed annual interest rate of 1.5%, a one-year grace period, and a four-year equal installment repayment plan. The funds are intended for business stabilization, and loans will be processed through the Kookmin Bank Dongdaemun-gu Office branch.
In particular, this year, the loan execution procedure has been greatly simplified, reducing the loan execution period, which previously took at least two months, to within one month. This is expected to enable faster support for small business owners who urgently need funds.
Applications can be submitted by visiting the Dongdaemun-gu Small Business Support Center starting April 21. Applicants must submit ▲loan application form ▲fund usage plan ▲small business (SME) confirmation, and other required documents. Application forms can be downloaded from the Dongdaemun-gu website (Dongdaemun News/Notice Board/District News).
District Mayor Lee Pil-hyung said, "I hope this loan support will be of practical help to small business owners and SMEs."
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