Gangseo-gu, SME Development Fund Loan... 6 Billion KRW at 1.5% Interest Rate
Gangseo-gu, Seoul (Mayor Jin Gyo-hoon) has stepped up to help small and medium-sized enterprises (SMEs) and small business owners struggling with high interest rates and an economic downturn. On the 26th, the district announced that it will implement a SME Development Fund loan support project, offering loans up to 300 million KRW at a low fixed interest rate of 1.5% to SMEs and small business owners.
This project was launched to alleviate the financial difficulties faced by SMEs due to high interest rates and economic recession, aiming to stabilize business management and revitalize the local economy.
The eligible applicants are SMEs with factory registration within the district, venture companies or Inno-Biz certified companies headquartered in Gangseo-gu, and small business owners with business registration and operations within the district. The total loan fund for this year is 6 billion KRW, with SMEs able to apply for up to 300 million KRW and small business owners up to 50 million KRW.
The interest rate is fixed at 1.5%, and the repayment method is a one-year grace period followed by equal installments over four years. The loan funds must be used only for purposes directly related to business management, such as facility funds, operating funds, and technology development funds.
Applications can be submitted anytime throughout the year without a separate application period. SMEs and small business owners wishing to apply should bring the application form, business plan, and other required documents to the Gangseo-gu Office’s Regional Economy Division. More detailed information, including application forms, can be found on the district’s website (Notices/News section).
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Mayor Jin Gyo-hoon said, “I hope this loan support project will be of some help to SMEs and small business owners struggling with high interest rates and high prices,” adding, “We will continue to develop various support policies to assist businesses and small business owners.”
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