Gyeongnam Sancheong-gun Confirms 12.4 Billion KRW Loan Support for SMEs and Small Businesses to Overcome COVID-19

Annual 3.5% Interest Support

Geumseo Agricultural and Industrial Complex, Sancheong-gun.

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Sancheong-gun, Gyeongnam Province, has finalized the scale of the loan support project for small and medium-sized enterprises (SMEs) and small business owners, aimed at overcoming the prolonged COVID-19 pandemic and stabilizing management, at 12.4 billion KRW.

On the 10th, the county announced, "In the first half of this year, 12.4 billion KRW will be provided to 186 SMEs and small business owners in the region as part of the support project."

This loan support project targets corporations and individual businesses that applied for support from January 17 to February 3.

The county reviewed the applicants through local financial institutions with which it has agreements and made the final selection of recipients.

The county will support an interest rate of 3.5% per annum on the loan amounts received by these businesses, with a repayment plan of a 2-year grace period followed by 3 years of equal installment repayments.

The loan support status by town and township is as follows: ▲ Sancheong-eup 62 businesses 3.722 billion KRW ▲ Chahwang-myeon 3 businesses 150 million KRW ▲ Obu-myeon 2 businesses 310 million KRW ▲ Saengcho-myeon 12 businesses 590 million KRW ▲ Geumseo-myeon 11 businesses 1 billion KRW ▲ Samjang-myeon 2 businesses 100 million KRW ▲ Sicheon-myeon 22 businesses 1.198 billion KRW ▲ Danseong-myeon 22 businesses 1.54 billion KRW ▲ Sinan-myeon 43 businesses 2.612 billion KRW ▲ Saengbiryang-myeon 4 businesses 1.175 billion KRW ▲ Sindeung-myeon 3 businesses 150 million KRW.

A county official said, "The business environment for SMEs and small business owners is more difficult than ever due to COVID-19," adding, "We will ensure that the prompt loan support provides practical help in alleviating the financial difficulties of small and medium-sized business owners."

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