Jungnang-gu Provides 1.4 Billion KRW Loan Support to SMEs and Small Business Owners in the First Half of the Year

From the 5th to the 28th, visit Jungnang-gu Office Corporate Support Division to apply... For SMEs and small business owners, up to 300 million KRW per company at an annual interest rate of 1.5%

[Asia Economy Reporter Jongil Park] Jungnang-gu (Mayor Ryu Kyung-gi) will provide a loan support of 1.4 billion KRW from the Small and Medium Business Development Fund to alleviate financial difficulties of small and medium-sized enterprises (SMEs) and small business owners in the area.

The support targets SMEs and small business owners with business locations in Jungnang-gu who possess a business registration certificate and have been operating for more than three months. However, companies currently repaying loans from the Jungnang-gu Small and Medium Business Development Fund as of the announcement date, as well as certain restricted industries such as finance, real estate, and luxury or entertainment businesses, are excluded. Additionally, collateral capability (real estate or credit guarantee) according to bank credit regulations is required.

The loan interest rate is 1.5% per annum, with a 2-year grace period and 3-year equal installment repayment terms. Each company can receive up to 300 million KRW, and the loan funds can only be used for working capital purposes.

Companies wishing to apply for the loan should visit the Corporate Support Division on the 4th floor of Jungnang-gu Office from the 5th to the 28th, bringing the loan application form, business plan, copy of business registration certificate, financial statements for the past three years, value-added tax standard certificate, withholding tax payment status report for the last three months, and employee roster. Related forms can be downloaded from the announcement and notice section on the Jungnang-gu Office website.

Loan recipients will be selected through deliberation by the Small and Medium Business Development Fund Operation Review Committee, and loans can be obtained from the Woori Bank Jungnang-gu Office branch starting from the end of March.

For more details, please refer to the announcement on the Jungnang-gu Office website or contact the Corporate Support Division at Jungnang-gu Office (☎2094-1294).

Ryu Kyung-gi, Mayor of Jungnang-gu, said, “I hope the Small and Medium Business Development Fund will greatly help SMEs and small business owners who are struggling financially due to the minimum wage increase and other challenges.”

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