Dobong-gu Provides Special Loans of 1.3 Billion KRW from SME Development Fund to Overcome COVID-19
Support for Small and Medium Enterprises and Small Business Owners in Dobong-gu... Up to 70 Million KRW per Company... Interest Rate on Loans Reduced from 1.8% to 0% Until December 2020 (Interest-Free Loan Support)
[Asia Economy Reporter Jongil Park] Dobong-gu (Mayor Dongjin Lee) recently announced a special loan program of 1.3 billion KRW from the Small and Medium Business Development Fund to minimize the damage to small and medium-sized enterprises (SMEs) and small business owners facing difficulties due to the prolonged COVID-19 pandemic.
The Small and Medium Business Development Fund is established to support the healthy growth and management stability of SMEs and small business owners.
The application period for this special loan is from May 1 to May 15.
Eligible applicants are SMEs and small business owners operating within Dobong-gu. The loan can be used for facility funds, operating funds, and technology development funds.
The support amount is up to 70 million KRW per company, with a repayment plan of 2 years grace period followed by 3 years of equal installments.
The loan can be secured by real estate or credit collateral. Applicants must receive prior consultation at Dobong-gu branch of Woori Bank, Changdong branch of Woori Bank, or Banghak-dong branch of Industrial Bank of Korea, which are partner banks of Dobong-gu, within the application period. Final selection will be made through the review of the Small and Medium Business Development Fund Operation Deliberation Committee, after which loans can be issued by the partner banks.
Additionally, after receiving the loan, borrowers can benefit from a zero-interest rate, reduced from 1.8%, until December 2020.
The district has previously supported 24 companies with a total loan amount of 2.8 billion KRW from the existing SME loan support fund.
Hot Picks Today
"Could I Also Receive 370 Billion Won?"... No Limit on 'Stock Manipulation Whistleblower Rewards' Starting the 26th
- Samsung Electronics Labor-Management Reach Agreement, General Strike Postponed... "Deficit-Business Unit Allocation Deferred for One Year"
- "From a 70 Million Won Loss to a 350 Million Won Profit with Samsung and SK hynix"... 'Stock Jackpot' Grandfather Gains Attention
- "Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
A district official stated, “In this very difficult situation for the local economy due to COVID-19, we hope that such support will help small business owners overcome their difficulties together.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
