Dongjak-gu Provides 10 Million KRW Interest-Free Loans for One Year to Small Business Owners Affected by COVID-19

Download application forms from the old website by the 21st and submit in person or by mail... Up to 10 million KRW loan at 1% annual interest... 1 year interest (1%) and 1 year credit guarantee fee (1%) supported by the district

[Asia Economy Reporter Park Jong-il] Dongjak-gu (Mayor Lee Chang-woo) announced that it will waive the interest on the Small and Medium Enterprise Development Fund in full for one year to overcome the local economic crisis caused by COVID-19.

The support target is small business owners with fewer than five employees who registered their business in Dongjak-gu before December 31, 2019, and are operating. If one person operates multiple business locations, only one representative business location can apply, and if two or more people are co-representatives of a business, only one representative can apply. However, businesses in the sectors of ▲finance and insurance ▲real estate ▲restaurants with five or more regular employees ▲rental and lodging, and small business owners operating in self-owned stores are excluded.

The loan scale is a total of 6.1 billion KRW, with loans up to 10 million KRW per company for rent, labor costs, etc., at an annual interest rate of 1%, with a one-year grace period and four years of equal repayment.

In particular, the district will fully support the interest (1%) and credit guarantee fee (1%) for one year for small business owners facing difficulties due to COVID-19.

Residents wishing to apply for the loan can download the application form from the district website and visit the Dongjak-gu Job Plus Center integrated reception desk by the 21st to submit their application in person.

In addition, the integrated reception desk also accepts applications for the Small Business Emergency Living Stabilization Fund and Multi-use Facility Closure Support Fund, operating from 9 a.m. to 6 p.m. on weekdays (excluding weekends and holidays).

The district also operates an integrated call center (☎ 820-1850~9) to provide guidance on 12 emergency COVID-19 support projects along with the integrated reception desk.

The integrated call center provides information on a total of 12 projects: ▲Small Business Emergency Living Stabilization Fund ▲Multi-use Facility Closure Support Fund ▲Small and Medium Enterprise Development Fund ▲Dongjak Love Gift Certificate Merchant Management Preservation Fund ▲Home Childcare Allowance ▲Disaster Emergency Living Expenses ▲Support for Businesses Damaged by Confirmed Case Visits ▲Alley Market 119 Emergency Fund Loan ▲Unpaid Leave Employment Retention Support Fund ▲Emergency Disaster Relief Fund ▲Temporary Childcare Support ▲Temporary Living Support for Low-Income Families.

Kim Jeong-won, Director of the Economic Promotion Division, said, "We will do our best to revitalize the stagnant local economy by ensuring that no one facing difficulties due to COVID-19 is left out of receiving support benefits."

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