'Non-face-to-face Hope Plus Special Guarantee' changes from 5-day rotation to previous day application system

Kwon Chil-seung, Minister of SMEs and Startups

[Asia Economy Reporter Donghyun Choi] The Ministry of SMEs and Startups announced on the 14th that it will expand the number of banks handling the regional credit guarantee 'Hope Plus Special Guarantee' and lift the five-day application system, allowing customers to apply regardless of the date.

The Hope Plus Special Guarantee is a financial support program that provides ultra-low interest loans in the 1% range up to 10 million KRW to small business owners with medium credit who have received quarantine support funds. Unlike existing regional credit guarantee products, both general 'operating funds' and 'refinancing funds' to refinance existing loans from secondary financial institutions can be applied for. If both funds are used, businesses can receive up to 20 million KRW per business.

If an individual business owner applies for operating funds, they can receive the loan on the same day as the application through a commercial bank's application without visiting the institution. Applications and submissions are also accepted at regional credit guarantee offices, and a total of 348.6 billion KRW in emergency funds was supplied over 11 business days (January 24 to February 10) since the launch.

From today, the number of banks where customers can apply for the Hope Plus Special Guarantee will increase from the current eight to eleven. This is to broaden customers' choices of transaction banks. In addition, the five-day application system has been terminated, allowing applications regardless of the date.

Applications can be made on the dedicated 'Hope Plus Special Guarantee' page on the Central Credit Guarantee Foundation's website. Application manuals by bank, personal credit scores, and quarantine support fund receipt details can also be checked.

For non-face-to-face applications via bank apps, personal joint certificates must be pre-registered on the National Tax Service's Hometax and Government24. For tenant business owners, preparing a copy (photo) of the lease contract for app registration will enable faster support.

Meanwhile, the 'Medium-Low Credit Small Business Special Guarantee,' which supports business owners with a personal credit score of 839 or below (formerly grade 4 or below) who have received quarantine support funds, can also be additionally and concurrently supported up to 20 million KRW. Applications and submissions for this are available at regional credit guarantee offices.

Kwon Younghak, Director of Corporate Finance at the Ministry of SMEs and Startups, said, "We are quickly disbursing funds to ease the burden on small business owners due to strengthened quarantine measures," and added, "We also support refinancing funds that convert high-interest loans from secondary financial institutions to low-interest loans from primary financial institutions, so we hope many will use this."

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