Hapcheon-gun Opens Applications for Loan Support from Small and Medium Enterprise and Small Business Development Fund
If selected as an eligible company, the military will support loan interest at 3% per year for 5 years
Notice for Application of Loan Support from the Fund for the Promotion of Small and Medium Enterprises and Small Business Owners.
View original image[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Hapcheon-gun, Gyeongnam announced on the 26th that it will accept applications for the '2021 Second Half Small and Medium Business and Small Merchant Development Fund' loan support from the 31st of this month until the 30th of next month.
The scale of the regular second half loan support, conducted to stabilize management and alleviate financial burdens of small and medium businesses and small merchants, is 2.5 billion KRW for the Small and Medium Business Development Fund and 4 billion KRW for the Small Merchant Development Fund.
The support targets are small and medium businesses and small merchants that have business sites within the jurisdiction and whose representatives also reside within the jurisdiction. If selected as a loan support company, the small and medium businesses and small merchants who receive the loan can receive 3% of the interest on the loan supported by the county for five years.
The loan limit is up to 500 million KRW for small and medium businesses and up to 50 million KRW for small merchants, with repayment conditions of a 2-year grace period followed by 3 years of equal installments. Companies wishing to apply should visit financial institutions affiliated with the county to consult on loan eligibility and then apply directly to the financial institution.
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A county official said, “To resolve the financial difficulties of small and medium businesses and small merchants in the jurisdiction, in the first half of this year, loan support was decided for 9 small and medium businesses amounting to 2.7 billion KRW and for 169 small merchants amounting to 6.4 billion KRW,” adding, “We hope that this second half loan support will help small merchants overcome management difficulties caused by ongoing COVID-19 quarantine measures and consumption contraction.”
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