Up to 150 million KRW, Annual Interest Rate 0.8%

Gangbuk-gu, 3rd Small and Medium Business Development Fund Loan Support

Applications accepted until August 4... Up to 150 million KRW, annual interest rate 0.8%, 1-year grace period with 4-year equal installment repayment

Gangbuk-gu, Seoul (District Mayor Lee Soon-hee) announced on the 13th that it will promote this year’s ‘3rd Small and Medium Business Development Fund Loan Support Project’ targeting small and medium enterprises and small business owners.

This project provides low-interest loans for facility and operating funds using the Small and Medium Business Development Fund, which is the district’s own budget.

This year, the district expanded the types of loan collateral available to small business owners from real estate collateral to include credit guarantee certificates.

The support targets small and medium enterprises or small business owners operating businesses within the district who have collateral capability according to bank credit regulations. However, industries such as tobacco, alcoholic beverages, precious metals, pubs, finance, and real estate are excluded.

The district plans to provide loans up to a maximum of 150 million KRW per company (50 million KRW for credit guarantee collateral) with an annual interest rate temporarily reduced from 1.5% to 0.8% this year, under the condition of a 1-year grace period followed by 4 years of equal installment repayments.

Whether support is granted will be finally decided through the review by the Small and Medium Business Development Fund Operation Deliberation Committee. Depending on the review results, the loan amount may be adjusted within the collateral evaluation amount or the applicant may be excluded from the loan target.

Applicants should visit the district office’s 6th floor Regional Economy Division by August 4 to submit the completed documents. Prior to this, they must go through the collateral evaluation confirmation process at Shinhan Bank Gangbuk-gu Office Branch by July 19.

Required documents include the loan application form, business plan, copy of business registration certificate, corporate registration certificate, national and local tax payment certificates, value-added tax standard certificate, etc. For further details, contact the district office’s Regional Economy Division.

District Mayor Lee Soon-hee stated, “We will generously support the sound development of small and medium enterprises and small business owners and the revitalization of the local economy.”

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