Sejong-si Provides Up to 30 Million Won Loan Support Per Small Business Operator

[Asia Economy (Sejong) Reporter Jeong Il-woong] Sejong City will provide loans of up to 30 million KRW per business to local small business owners.

The city announced on the 18th that it will provide early support for the 3 billion KRW allocated for the fourth quarter small business management stabilization fund.

The small business management stabilization fund is a fund provided quarterly with set limits to alleviate the management difficulties of local small business owners.

The city supports 2 percentage points off the financial institution loan interest rate for small business owners who receive loans with a 2-year grace period and lump-sum repayment, and 1.75 percentage points off for those with a 1-year grace period and 2-year equal installment repayment.

Earlier, from the first to third quarters, the city supported a total of 18 billion KRW through an interest subsidy method that partially covers the interest rates imposed by financial institutions when small business owners take out loans.

Through this, a total of 724 cases of funding support were made, and the city explained that small business owners received interest rates on average 1.88 percentage points lower than the average loan interest rates of commercial banks.

Small business owners wishing to apply for funding support can consult and apply through the Chungnam Credit Guarantee Foundation Gongju Branch and Cheonan Branch.

Kim Hoe-san, head of the city’s Enterprise Support Division, said, “We expect that the early support of the fourth quarter allocation will help alleviate the management difficulties of local small business owners,” and added, “The city will continue to monitor funding demand to ensure timely support for small business owners.”

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