Hamyang-gun Opens Loan Applications for This Year's Income Specialization Support Project

Applications for 1% Annual Loan Funding Accepted Until February 2

Hamyang-gun, Gyeongnam Province, is accepting applications for the Income Specialization Support Project loan until February 2nd to stabilize the management of farmers and fishermen, improve income levels, and strengthen agricultural competitiveness.

Applications for the Income Specialization Support Project loan are conducted twice a year, in the first and second half of the year. This year's first half application period is from January 15th to February 2nd. Applicants must prepare the loan application form, business plan, and other necessary documents and visit the industrial economy department of their local eup/myeon office.

Hamyang County Office.

The loan support scale is up to 30 million KRW for individuals and 50 million KRW for corporations/organizations for operating funds, and up to 50 million KRW for individuals and 100 million KRW for corporations/organizations for facility funds.

The repayment conditions are an annual interest rate of 1%. Operating funds have a 1-year grace period followed by 3 years of equal installments, and facility funds have a 2-year grace period followed by 3 years of equal installments.

Operating funds must be used for purchasing materials such as seeds (seedlings), pesticides, fertilizers, usage fees, facility and equipment rental fees, transportation costs, distribution, sales, and processing related expenses necessary for farming. Facility funds can be used to expand or improve agricultural and fishery-related facilities or equipment.

After application and review, selected recipients can receive support starting from the end of February according to the credit regulations of the NongHyup Bank Hamyang Branch located in Hamyang-eup.

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