Seongdong-gu Provides Special Credit Guarantee Loans Worth 30 Billion Won

KRW 30 Billion Scale Seongdong-type Special Credit Guarantee Loan Support... Second Round Applications Open from the 17th

Following the first round of KRW 3 Billion, a total of KRW 30 Billion loan support including KRW 27 Billion for SMEs and small business owners from the 17th

Benefit of 2% Range Variable Interest Rate through Interest Support on Top of Commercial Bank Rates... Applications Accepted Until Funds Are Exhausted

Panoramic View of Seongsu-dong Area, Seongdong-gu

Seongdong-gu (Mayor Jung Won-oh) will resume the KRW 30 billion scale Seongdong-type special credit guarantee loan support project from the 17th of this month, targeting small and medium-sized enterprises (SMEs) and small business owners struggling with management difficulties due to economic recession and high inflation.

Seongdong-gu, which supported KRW 3 billion loans to a total of 122 companies in the first round in May, has now secured KRW 27 billion in cooperation funds from commercial banks for the second round.

The loan period is 4 years (1 year grace period, 3 years equal repayment), with interest support of up to 1.5% per annum, allowing loans at a variable interest rate in the 2% range until funds are exhausted.

The support targets SMEs or small business owners who have registered their business in Seongdong-gu and have had a main office or factory for more than 6 months. Collateral is only accepted in the form of a credit guarantee certificate from the Seoul Credit Guarantee Foundation. Companies with existing guarantee balances at the foundation can receive up to KRW 20 million (within KRW 50 million including existing guaranteed amounts), and those without guarantee balances can receive up to KRW 30 million.

Applicants should bring required documents such as a copy of the business registration certificate and sales report materials, then visit the Seoul Credit Guarantee Foundation Seongdong Branch, Shinhan Bank Seongdong-gu Office Branch, or Woori Bank Wangsimni Station Financial Center for prior consultation and application. For other detailed information such as guarantee restrictions and non-eligible loan industries, please check the notice section on the district website.

A district official stated, “We expect that up to 1,000 companies will be able to receive loans through this second round of support,” and added, “Since the second round is also expected to be quickly exhausted, please hurry to apply.”

Jung Won-oh, Mayor of Seongdong-gu, said, “We have secured funds through active cooperation with commercial banks to provide relief for the management of companies and small business owners,” and added, “We will continue to provide multifaceted support for economic revitalization and economic recovery within the region.”

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