Jangseong-gun Advances Implementation Period for Small Business Support Program

[Asia Economy Honam Reporting Headquarters, Reporter Oh Gil-su] Jangseong-gun, Jeollanam-do announced on the 9th that it will implement the ‘Small Business Support Project’ one month earlier to help local small business owners who are struggling with management due to the spread of COVID-19.

Accordingly, the county decided to start the 2020 Small Business Support Project, which was scheduled to be implemented next month, from this month and will accept applications until the 13th.

The ‘Small Business Support Project’ promoted by the county targets small business owners who have business sites and addresses within Jangseong-gun, and consists of three types: store rent support, loan interest differential compensation, and credit guarantee fee support.

First, the county supports store rent up to 4 million KRW per year for small business owners who have rented and operated stores since March 1, 2018.

In addition, for loan interest, Jangseong-gun compensates the difference up to 3% from the county and up to an additional 2% from six financial institutions that have business agreements with the county, supporting up to 2 million KRW annually for three years in total.

Credit guarantee fees are supported up to 1 million KRW within a three-year period for the credit guarantee fees charged by guarantee institutions.

Yoo Doo-seok, the mayor of Jangseong-gun, said, “We decided to promptly promote this year’s Small Business Support Project to help local small business owners who are suffering serious difficulties due to the economic downturn caused by COVID-19 as soon as possible. We will do our best for thorough quarantine of infectious diseases and the recovery of the local economy.”

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