Hapcheon-gun Decides to Provide Additional 640 Million KRW Loan Support for Small Business Development Funds

15 Small Businesses Supported with 3% Annual Interest for 5 Years

Hapcheon County Office Building Exterior

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Hapcheon-gun, Gyeongnam Province announced on the 10th that it will provide additional interest differential support to small business owners struggling due to the prolonged COVID-19 pandemic.

In July, the county decided to support an annual 3% interest subsidy on 4.8 billion KRW in loans for 61 small and medium-sized enterprises and small business owners.

To further alleviate the ongoing financial difficulties of small business owners, from August 11 to 30, additional loan applications were accepted through affiliated financial institutions. After reviewing the eligibility and appropriateness of the applications on the 8th, loan support of 640 million KRW was approved for 15 companies.

Accordingly, 15 small business owners will receive a 3% annual interest subsidy on 640 million KRW in loans for five years from the county.

Chairman Choi Yong-nam said, “This loan support decision is intended to assist small business owners in the region who are facing increasing difficulties due to the economic downturn caused by COVID-19, and we hope it will help ease their financial burdens even a little.”

Meanwhile, Hapcheon-gun is focusing on preparing support measures for small business owners to overcome the crisis, including expanding the scale of loan support to stabilize management amid the economic recession caused by the prolonged COVID-19 pandemic.

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