Up to 3 Billion Won for Companies,
500 Million Won for Small Business Owners...
Applications Accepted Until Funds Are Exhausted
Jindo County in South Jeolla Province (Governor Kim Heesu) announced on May 16 that it will accept additional applications for the "Special Guarantee Financial Support for Businesses in Depopulation Areas" to help stabilize business operations and support sustainable growth for companies located in depopulation areas.
Eligible applicants include: ▲ regional key industries ▲ companies relocated to the region ▲ promising start-ups ▲ entrepreneur-type small business owners ▲ companies engaged in promising service industries ▲ start-ups established within the past seven years, among others.
The maximum loan amount is up to 20% of the company's sales over the past year, with a ceiling of 3 billion won for companies and 500 million won for small business owners. Operating funds can be borrowed for up to three years, and facility funds for up to ten years.
The special guarantee financial support program is operated by the Korea Credit Guarantee Fund and NH Nonghyup Bank. The Korea Credit Guarantee Fund provides a 100% guarantee certificate or support for guarantee fees after a review process, while Nonghyup Bank offers preferential interest rates on the same loan amount. Jindo County plans to further ease the financial burden on companies by subsidizing 2% of the final loan interest rate for up to three years.
Applications will be accepted until funds are exhausted. Details on eligibility criteria and required documents can be found in the notices and announcements section of the Jindo County website. For more information or inquiries, contact the Hometown Love Team at the Jindo County Population Policy Office.
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