Gimhae City to Release 20 Billion Won for Small Business Support Funds in Second Half of Year
[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Sang-hyun] Gimhae City, Gyeongnam Province, announced on the 27th that it will provide 20 billion KRW in support funds for small business owners in the second half of the year.
The support funds help stabilize the management of small business owners by providing an interest rate of 2.5% and six months' worth of credit guarantee fees for up to 50 million KRW per business for two years when loans are taken from banks.
Unlike before, this fund will also be temporarily provided to real estate rental business operators who participate in the 'Win-Win Landlord Movement.'
Since the outbreak of COVID-19, real estate rental business operators who have shared the pain with small business owners have been classified as restricted industries for government credit guarantees, making it impossible to receive various policy fund supports, including the city's support funds.
Accordingly, the city realized support for win-win rental business operators, who were previously in a blind spot, through agreements with financial institutions and the revision of the 'Gimhae City Small Business Owner Support Ordinance.'
Interest rate differences will be supported for collateral and credit loans of registered rental business operators participating in the Win-Win Landlord Movement, and rental business operators who participated in the movement in 2020 can also apply retroactively.
The support funds are scheduled to be provided from mid-August through the Gyeongnam Credit Guarantee Foundation and the Gimhae City Hall Regional Economy Division.
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Mayor Heo Seong-gon said, "We will make greater efforts to implement policies that provide practical help to small business owners struggling due to the prolonged COVID-19 pandemic, and we will work harder to discover support policies for blind spots in various government supports."
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