Yangcheon-gu Supports 2.5 Billion KRW Loan Fund for Small and Medium Enterprise Development

Annual interest rate 2%, 2-year grace period with 3-year equal installment repayment... Usable for facility purchase funds, working capital, technology development funds, etc.

[Asia Economy Reporter Park Jong-il] Yangcheon-gu (Mayor Kim Soo-young) is supporting the '2020 First Half Small and Medium Enterprise Development Fund Loans' and is accepting applications until February 7.

The district operates the 'Small and Medium Enterprise Development Fund Loan Support' system in two phases, first and second half of the year, as part of measures to alleviate financial difficulties and stabilize management for small and medium enterprises and small business owners, thereby revitalizing the local economy. Last year, approximately 4 billion KRW was supported to a total of 56 companies.

The support scale for the first half of this year is a total of 2.5 billion KRW, provided at an annual interest rate of 2.0%, with a 2-year grace period followed by 3 years of equal installment repayments. Manufacturing sector companies can receive up to 300 million KRW per company, and other wholesale and retail businesses can receive up to 80 million KRW. The loans can be used for facility purchase funds, operating funds, technology development funds, and business conversion funds.

Eligibility includes ▲ manufacturers registered with a factory in Yangcheon-gu ▲ companies with their main office in Yangcheon-gu and factories registered within the jurisdiction of Seoul Metropolitan City ▲ companies operating knowledge service industries related to manufacturing ▲ small enterprises and small business owners ▲ wholesale, retail, and other industries (excluding some sectors).

Companies wishing to apply can download the loan application form and business plan form from the Yangcheon-gu Office website (www.yangcheon.go.kr) under Notices or Announcements, and submit them along with the required documents to the Job and Economy Division on the 7th floor of Yangcheon-gu Office (105 Mokdongdong-ro) by February 7.

Applicants will be confirmed as loan recipients after review by the Fund Operation Committee. After selection, loans can be obtained from March at the Woori Bank Yangcheon-gu Office branch.

A Yangcheon-gu official stated, “We aim to help stabilize the local economy through loan support for small and medium enterprises and small business owners struggling due to the economic downturn,” and added, “We will continue to seek ways to stabilize business management and revitalize the local economy.”

For inquiries, contact the Job and Economy Division at ☎2620-4811.

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