Yeongam-gun Opens Applications for Low-Income Household Living Stability Fund Loans

Yeongam County Office Building Exterior (Photo by Yeongam County)

[Asia Economy Honam Reporting Headquarters Reporter Seo Young-seo] Yeongam-gun, Jeollanam-do announced on the 16th that it will accept loan applications for living stabilization funds for low-income residents until the 20th.

The loan targets are basic livelihood and medical beneficiaries and near-poverty groups who have a strong desire for self-reliance and repayment ability, and the program is implemented to stabilize living and establish a foundation for self-reliance.

The loan conditions are a 2-year grace period followed by 5 years of equal repayments, with an annual interest rate of 1% (4% for overdue interest). Loans of up to 10 million KRW per household are provided to low-income groups capable of self-reliance and self-support after reviewing the feasibility of the business plan and repayment ability.

The loan funds can be applied for purposes such as business capital for small-scale merchants, living expenses for those affected by natural disasters and calamities, partial costs for jeonse deposits or move-in guarantees for the homeless, and university tuition fees.

Applications and consultations for the loan can be made by visiting the resident welfare team at the town or township office of the applicant’s place of residence within the deadline.

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