Miryang City to Provide 7 Billion KRW in Small Business Development Funds in 2021

Additional Support for Credit Guarantee Issuance Fees

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Sang-hyun] Miryang City, Gyeongnam Province announced on the 31st that it will provide 7 billion KRW in small business development funds in 2021 to alleviate financial difficulties and stabilize management for small business owners struggling due to the spread of the novel coronavirus infection (COVID-19).

The types of development funds include startup funds and management stabilization funds, with a support limit of 50 million KRW per business.

The support targets are small business owners who have received a credit guarantee certificate from the Miryang branch of the Gyeongnam Credit Guarantee Foundation, and 2.5% of the interest incurred on loans from affiliated financial institutions will be supported for one year.

In addition, the credit guarantee certificate issuance fee will also be supported to lower usage barriers.

Applications for the development funds can be submitted from January 4 next year at the Job and Economy Division of the Miryang branch of the Gyeongnam Credit Guarantee Foundation.

Mayor Park Il-ho said, “I hope the small business development funds will help alleviate financial difficulties and stabilize management, and we will do our best to continuously prepare support measures for small business owners who are struggling due to COVID-19.”

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