Korea Federation of SMEs Expands "New Start Fund?Yellow Umbrella Leap Support Grant" Program

Eligibility Expanded to Brokerage-Type Debt Adjustment Recipients
Applications Accepted via Yellow Umbrella Website

The Korea Federation of SMEs announced on March 3 that it will expand the "New Start Fund-Yellow Umbrella Leap Support Grant" program through a business agreement with the New Start Fund for Self-Employed Microbusiness Owners to support recovery for small business owners.

This initiative was launched to help diligent payers of the New Start Fund prepare for unexpected business risks such as closure and to establish a stable living foundation through the Yellow Umbrella mutual aid program.

In particular, this year, the scope of beneficiaries who were previously limited to "purchase-type" debt adjustment recipients under the New Start Fund has been expanded to include those under the "brokerage-type" scheme. Now, any small business owner who is making regular repayments-regardless of debtor or loan type-can broadly benefit from the program.

The Leap Support Grant will provide 100,000 won to small business owners who enroll in the Yellow Umbrella mutual aid program by December 15, 2026, and who are currently making regular repayments under the purchase-type or brokerage-type debt adjustment plans of the New Start Fund.

Applicants must submit either a "New Start Fund Repayment Statement" or a "Credit Recovery Committee Debt Repayment Plan Execution Statement." If the debt has been fully repaid, a "New Start Fund Debt Completion Certificate" or a "Credit Recovery Committee Debt Repayment Plan Completion Statement" can be submitted instead.

Lee Changho, Director of the Mutual Aid Projects Division at the Korea Federation of SMEs, stated, "It is most important to provide a foundation for small business owners who are diligently repaying their debts to make a new leap forward." He added, "By expanding the scope of support this year to reduce blind spots in recovery, we hope that more small business owners will be able to continue their businesses stably through the Yellow Umbrella mutual aid program."

This content was produced with the assistance of AI translation services.