SBC, Online Application for Small Business Policy Funds at 1% Interest Rate

Small Enterprise and Market Service

Source: Small Enterprise and Market Service

[Asia Economy Reporter Kim Daeseop] The Small Enterprise and Market Service (SEMAS) announced on the 16th that it will provide low-interest policy funds at an interest rate in the 1% range to stabilize the management of small business owners facing difficulties in financing.

First, from the 19th to the 21st, applications will be accepted for specialized funds for small manufacturers, innovative small business funds, and funds exclusively for social economy enterprises.

In particular, the newly established Innovative Small Business Fund this year targets small business owners selected for SEMAS's 'Innovative Small Business Development Project.' As of the fourth quarter of this year, SEMAS will support working capital up to 100 million KRW per company and facility funds up to 500 million KRW at a variable interest rate of 1.57%.

Additionally, funds for smart equipment introduction and funds exclusively for urban redevelopment project areas were newly established this year. The application and reception period is from the 26th to the 30th.

The Smart Equipment Introduction Fund supports small manufacturers who have introduced or plan to introduce smart equipment at a variable interest rate of 1.57%. Working capital is limited to 100 million KRW annually per company, and facility funds are supported up to 500 million KRW per company.

The Urban Redevelopment Project Area Exclusive Fund supports small business owners experiencing management difficulties during maintenance processes such as reconstruction and redevelopment, providing working capital up to 70 million KRW per company at a variable interest rate of 1.97%.

The 'Rechallenge Special Fund,' which supports growth-potential companies facing difficulties in financing due to low credit, will also accept applications from the 26th to the 30th.

Furthermore, SEMAS proxy loans such as general management stabilization funds and special youth employment funds for job creation will begin accepting applications from the 21st. It is possible to apply for the issuance of a 'Policy Fund Support Eligibility Certificate' through the SEMAS website. Once eligibility is confirmed, applicants can print the certificate online and visit the regional credit guarantee foundation or bank.

A SEMAS official stated, "To prevent the spread of COVID-19 and enhance user convenience, we have switched to a non-face-to-face online application method through the SEMAS website instead of on-site reception at regional centers."

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