Imsil-gun Promotes Interest Subsidy Program for Small and Medium Enterprise Loans

[Asia Economy Honam Reporting Headquarters Reporter Park Nosik] Imsil-gun, Jeonbuk announced on the 6th that it will promote the ‘2021 Small and Medium Enterprise Loan Support Interest Subsidy Project’ to alleviate financial difficulties and stabilize management for small and medium enterprises suffering from business difficulties due to the prolonged COVID-19 pandemic and economic recession.

The target of the Small and Medium Enterprise Loan Support Interest Subsidy Project is small and medium enterprises located in the jurisdiction that are registered factories and operating manufacturing companies.

Among these companies, if working capital such as material costs and labor costs necessary for production is needed and they receive loans from financial institutions, the county will subsidize part of the loan interest.

The interest subsidy support limit per company is up to 200 million KRW, provided with a 1-year grace period and 2-year repayment period, and supports up to 3% of the interest generated on the loan.

The application deadline is until the 14th, and companies wishing to apply for the interest subsidy project should visit NH Nonghyup Bank Imsil Branch, a contracted financial institution, to check the loanable amount, then submit the application form and required documents to the Economic and Transportation Division of Imsil County Office, where eligibility will be reviewed and support will be selected and provided.

The county expects that this loan support interest subsidy project will provide relief to the financial difficulties of local manufacturing companies struggling due to the prolonged COVID-19 pandemic and economic downturn.

In particular, the county expects that by subsidizing part of the loan interest, it will help the management of local small and medium enterprises and serve as a pillar of the local economy.

County Governor Sim Min said, “I hope the Small and Medium Enterprise Loan Support Interest Subsidy Project will be of help to small and medium enterprises facing difficulties,” and added, “We will continue to actively strive to revitalize small and medium enterprises, which are the solid foundation of the local economy.”

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