Daejeon City Provides Additional 84 Billion KRW Loan Support to Small Business Owners

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Daejeon City will provide an additional 84 billion KRW in emergency loans to local small business owners.

The city announced on the 6th that it will provide additional emergency loans to help small business owners who are experiencing difficulties such as decreased sales due to the resurgence of the novel coronavirus infection (COVID-19) and the implementation of high-intensity social distancing measures.

First, the city plans to support up to 60 million KRW per business as management improvement loan funds and subsidize 2-3% of the loan interest for two years.

In particular, the city plans to allow support of up to 10 million KRW per business for low-credit small business owners with credit ratings of 7 to 8, who had previously been excluded from funding support.

Small business owners who wish to apply for loans can visit branches of Kookmin, KEB Hana, NongHyup, Busan, Shinhan, Credit Union, Woori, Jeonbuk, Hana, Saemaeul Geumgo, and Standard Chartered (SC Jeil) banks to apply. Applications will be accepted for three days from the 7th to the 10th.

For more detailed information, guidance can be obtained through the Daejeon Credit Guarantee Foundation, which has signed a business agreement with the city.

Meanwhile, the city has also decided to defer repayment for one year on 83 billion KRW in loan repayments due in the second half of this year from 3,770 businesses that previously received support funds.

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