Gwangju Buk-gu Supports 3-Free Special Guarantee for Tenant Small Business Owners

Published 20 Feb.2022 18:13(KST)

Special Loan Support up to 20 Million Won per Company without Guarantee Fee or Interest

Up to 940,000 Won Benefit per Person for One Year on 20 Million Won Loan

Gwangju Buk-gu Supports 3-Free Special Guarantee for Tenant Small Business Owners

[Asia Economy Honam Reporting Headquarters Reporter Kim Yukbong] Buk-gu, Gwangju City announced on the 20th that it will support the ‘2022 Didimdol 3-Mu (No Collateral, No Interest, No Guarantee Fee) Special Guarantee’ for tenant small business owners suffering from business difficulties due to the prolonged COVID-19 pandemic.

Buk-gu was the first autonomous district in Gwangju City to implement the 3-Mu special guarantee, providing special guarantees worth 6.75 billion KRW to local small business owners from 2020, when the local spread of COVID-19 began, until last year.

This year, it will support up to 20 million KRW depending on the credit rating and sales of tenant small business owner companies with business locations in Buk-gu, with a scale of about 3.1 billion KRW.

Small business owners can receive loans without collateral through the Gwangju Credit Guarantee Foundation guarantee and can repay over five years.

Buk-gu supports the full interest and guarantee fee for one year, and 2% interest in the second year, so if a special guarantee loan of 20 million KRW is received, benefits of up to 940,000 KRW are expected for one year.

The special guarantee project will operate until funds are exhausted.

Applications, consultations, and screenings can be made on the Gwangju Credit Guarantee Foundation website, and support can be received through all branches of Gwangju Bank and 11 Saemaeul Geumgo locations in Buk-gu.

Earlier, on the 18th, Buk-gu signed a business agreement for support of the 3-Mu special guarantee with the Gwangju Credit Guarantee Foundation, Gwangju Bank, and the Buk-gu Saemaeul Geumgo Chairpersons’ Council.

Director Moon In said, “We will continue to make every effort to prepare support measures that help alleviate the financial burden of local small business owners and aid in the recovery of daily life.”