Seoul City Extends Application Deadline for Tenant Small Business Protection Fund to the 31st
Extension of Application Period to Maximize Support for Eligible Small Business Owners Who Missed the Deadline
9,200 Additional Applications Received During First Extension Period, Extension Decided Based on Demand from Small Business Owners
[Asia Economy Reporter Lim Cheol-young] Seoul City announced on the 14th that it will extend the application period for the ‘Tenant Small Business Keeper Fund,’ which provides 1 million KRW in cash to small business tenants facing survival crises due to the resurgence of COVID-19, until the 31st of this month.
The ‘Keeper Fund’ support targets small business establishments with annual sales under 200 million KRW in 2020 or 2021, that opened before December 31 of last year, and are renting or operating stores in Seoul as of February 4 this year. However, businesses in entertainment facilities and other restricted industries under the small business policy fund loan restrictions, as well as those receiving rent reductions for public property tenants in Seoul this year, special employment types (SE-type) and freelancer support funds, or tourism industry crisis recovery funds, cannot receive overlapping support.
Applications for the ‘Keeper Fund’ can be completed by accessing ‘Seoul Keeper Fund’ via mobile or computer and registering only two documents: the business registration certificate and the lease contract. The city added that by utilizing registration documents and data from the Seoul Regional Tax Office and major card companies (Shinhan Card, BC Card, KB Kookmin Card), the review period is shortened and funds are disbursed promptly.
Meanwhile, the objection period for small business owners excluded from support has also been extended from the 20th of this month to April 8, and this can also be applied for online through ‘Seoul Keeper Fund.’ More detailed information can be found on the application site.
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Im Geun-rae, Seoul City’s Small Business Policy Officer, said, “Small business owners who have not yet applied for the Keeper Fund for various reasons should be sure to apply by the end of this month to receive support,” adding, “We will do our best to support every last small business owner.”
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