Gyeongbuk Gyeongsan-si Provides Special Guarantee Support Regardless of Personal Credit... Up to 20 Million Won, Low-Interest Loans for up to 5 Years

This Year’s Contribution of 1 Billion KRW, Guarantee Scale of 14.9 Billion KRW

Gyeongsan City Hall.

[Asia Economy Yeongnam Reporting Headquarters Reporter Yeo Jong-gu] Gyeongsan City, Gyeongbuk Province announced on the 11th that it will ease the special guarantee conditions for small business owners in the first half of 2022 to support small business owners struggling due to COVID-19.

The support target is small business owners operating in Gyeongsan City in the first half of 2022, who will be able to receive low-interest loans up to 20 million KRW and a loan period of up to 5 years regardless of their personal credit score.

However, in the second half of the year, loans will be provided to small business owners with a personal credit score of 744 or below.

Since 2018, the city has contributed 2.3 billion KRW to the Gyeongbuk Credit Guarantee Foundation, supporting 1,032 companies with a total of 18.089 billion KRW as of the end of December last year.

This year, the city will contribute 1 billion KRW and operate the project with a guarantee scale of 14.9 billion KRW, including the carryover amount from last year.

For more details, please refer to the announcement on the city’s website or contact the Gyeongsan branch of the Gyeongbuk Credit Guarantee Foundation.

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