Hapcheon-gun Decides on 4.8 Billion KRW Loan Support for SMEs and Small Business Owners Amid COVID-19
10 Small and Medium Enterprises and 51 Small Business Owners to Receive Interest Support Within 3% Annually for 5 Years
[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Hapcheon-gun, Gyeongnam announced on the 14th that it will support the interest difference on loans amounting to 4.8 billion KRW for 61 companies to assist small and medium-sized enterprises (SMEs) and small business owners struggling due to the novel coronavirus infection (COVID-19).
In the second half of this year, the county will accept loan applications through affiliated financial institutions in the area from May 31 to June 30 to resolve funding difficulties for SMEs and small business owners. SMEs can apply for up to 500 million KRW, and small business owners up to 50 million KRW.
On the 13th, Hapcheon-gun held a review committee meeting for fostering funds for SMEs and small business owners, and after reviewing the eligibility and appropriateness of the applications, decided to provide loan support of 4.8 billion KRW to 61 companies.
Through this committee decision, 10 SMEs (2.48 billion KRW) and 51 small business owners (2.36 billion KRW) will receive support from the county for part of the loan interest (3% per annum) for five years.
Hapcheon-gun expanded the loan support scale to 5 billion KRW (from 9.4 billion KRW to 14 billion KRW) to stabilize the management of SMEs and small business owners, and increased the contribution to the Gyeongnam Credit Guarantee Foundation to 200 million KRW this year to support companies having difficulty with secured loans.
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Chairman Choi Yong-nam said, “This loan support decision is intended to assist local SMEs and small business owners who are facing increased difficulties due to the economic downturn caused by COVID-19, and we hope it will help alleviate their funding difficulties even a little.”
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