Dobong-gu, 2020 1st Round of Living Stability Fund Loan Support

From February 10 to February 21, '2020 1st Living Stability Fund Loan Support' Application... Up to 30 million KRW loan per household for Dobong-gu residents with annual property tax under 200,000 KRW and monthly average income below urban worker households, 2% annual interest, 2-year grace period, 2-year equal installment repayment

[Asia Economy Reporter Park Jong-il] Dobong-gu (Mayor Lee Dong-jin) is providing the first round of 2020 Living Stability Fund loans until the 21st to help low-income residents with the will to become self-reliant stabilize their lives and build a foundation for independence.

Eligible applicants are Dobong-gu residents who pay property tax of 200,000 KRW or less annually and whose monthly average income per urban worker household is below the standard (6,433,580 KRW for a family of four).

The application period is from February 10 to February 21, and applications can be submitted at Woori Bank Dobong-gu Office Branch.

After the bank verifies the loan repayment ability (credit rating of 5 or higher, regular income, existing loans, etc.), the selection committee for Living Stability Fund loan recipients must review the application.

After review, loans of up to 30 million KRW per household will be provided starting March 20.

The loan terms are an annual interest rate of 2%, with a 2-year grace period followed by 2 years of equal installment repayments.

The loan funds can be used for ▲ small-scale manufacturing and service businesses or equivalent commercial activities ▲ rent or deposit for tenants without housing ▲ tuition for direct descendants attending high school or higher ▲ living expenses for those affected by natural disasters, fires, or other calamities.

The 2020 Living Stability Fund loan scale is 200 million KRW per quarter, totaling 800 million KRW annually.

This year, the district plans to accept applications for the “2020 Living Stability Fund Loan Support” four times quarterly (February, May, August, November) to stabilize residents’ living foundations.

Lee Dong-jin, Mayor of Dobong-gu, said, “Many residents who have the will to become self-reliant are struggling with economic difficulties. We hope this Living Stability Fund loan support will serve as a stepping stone for stabilizing their living foundations and establishing independence.”

Dobong-gu Job and Economy Division 2091-2864

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