Hapcheon-gun Opens Applications for 'Small and Medium Enterprise and Small Business Development Fund Loan Support'
From May 31 until funds are exhausted
[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Hapcheon-gun, Gyeongnam Province, is accepting applications for the second half of the year Hapcheon-gun Small and Medium Enterprises (SMEs) and Small Business Promotion Fund loan support from the 31st until funds are exhausted to support SMEs and small business owners struggling due to the prolonged COVID-19 situation.
The loan support for the second half of this year consists of 3 billion KRW for the SME Promotion Fund and 4.745 billion KRW for the Small Business Promotion Fund. Eligible applicants are SMEs and small business owners operating with business locations (head offices for SMEs) in the county.
Once selected as a loan support company, the interest on the loaned funds will be subsidized at 3% (interest subsidy) for five years. The loan limits are ▲ up to 500 million KRW for SMEs ▲ up to 50 million KRW for small business owners, with repayment terms of a 2-year grace period followed by 3 years of equal installments.
Applicants wishing to apply can do so through the county’s Economic and Transportation Department’s Corporate Support division for SMEs and small business owners (excluding credit guarantees), and small business owners seeking loans through credit guarantees can apply at the Gyeongnam Credit Guarantee Foundation Geochang Branch.
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Park Mu-gon, head of Hapcheon-gun’s Economic and Transportation Department, said, “We have changed the application reception locations from the existing loan agreement banks to the county’s Economic and Transportation Department and the Gyeongnam Credit Guarantee Foundation to eliminate the inconvenience of applicants missing the application period and having to wait until the next application period, and we have also simplified the application process. We will continue to prepare various measures that SMEs and small business owners can tangibly feel.”
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