Sancheong-gun, Loan Support for Small and Medium Enterprises and Small Business Owners

7 Billion KRW Scale ... Applications Open from 22nd to June 5th

3.5% Secondary Interest Subsidy Support ... Easing Corporate Burden

Sancheong-gun, Gyeongnam Province, will provide 7 billion KRW in support funds for small and medium-sized enterprises (SMEs) and small business owners in the first half of the year to alleviate their management difficulties.

The application period is from the 22nd to June 5th, and applications will close early if the loan amount is exhausted during the period. The 7 billion KRW fund is divided into guaranteed loans through the Gyeongnam Credit Guarantee Foundation (1.2 billion KRW) and credit/collateral loans from financial institutions themselves (5.8 billion KRW).

The support targets are SMEs and small business owners with business sites in Sancheong-gun who have sales. Anyone who is a business operator with repayment ability under bank credit regulations and is not excluded from loan support can apply.

Drone shot photo of Geumseo Agricultural and Industrial Complex, Sancheong-gun, Gyeongnam.

The loan limit is up to 500 million KRW depending on the company's sales and capital size, with a repayment condition of 2 years grace period and 3 years equal installment repayment.

Guaranteed loans through the Gyeongnam Credit Guarantee Foundation are available only to small business owners and can be processed by making a reservation or visiting the Gyeongnam Credit Guarantee Foundation website to schedule a consultation.

Applications for credit/collateral loans from financial institutions can be submitted after consulting with the handling financial institution regarding loan limits and interest rates.

Applications can be made at five financial institutions that have signed agreements with Sancheong-gun: NongHyup Bank Sancheong Branch, Gyeongnam Bank Sancheong Branch, Sancheong Saemaeul Geumgo, Industrial Bank of Korea Jinju Branch, Sancheong Agricultural Cooperative, and 14 NongHyup branches in the towns and townships.

If selected as a recipient of this support fund, Sancheong-gun will provide an interest subsidy of 3.5%. For more details, refer to the announcement on the Sancheong-gun website or contact the Economic and Transportation Division of Sancheong-gun Office.

An official from the county said, "This support will help stabilize the management of SMEs and small business owners who are experiencing financial difficulties due to the economic downturn and rising interest rates," adding, "We will continue to do our best to support the resolution of management and financial difficulties."

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