Dongdaemun-gu Provides 3 Billion KRW Loan Support for Small and Medium Enterprise Development Fund

Implementation of 3 Billion KRW Loan in First Half of 2024 (Annual Interest Rate 1.5%)... Applications Accepted from March 11
Up to 30 Million KRW per Small Business, Up to 100 Million KRW per SME

Dongdaemun-gu, Seoul (District Mayor Lee Pil-hyung) will implement a 'Small and Medium Enterprise Development Fund Loan Support' worth 3 billion KRW in the first half of this year, together with the Seoul Credit Guarantee Foundation Dongdaemun Branch and Kookmin Bank, to stabilize management and alleviate financial difficulties of local small business owners and SMEs struggling due to rising interest rates.

The loan amount is 3 billion KRW, with an annual interest rate of 1.5%, and will be repaid in equal installments over 4 years after a 1-year grace period.

The support targets small business owners and SMEs with more than 6 months of business experience located in Dongdaemun-gu. Small business owners can apply for loans up to 30 million KRW per business, and SMEs can apply for up to 100 million KRW per business.

Applications for the Small and Medium Enterprise Development Fund loan will be accepted on a first-come, first-served basis for three weeks from March 11 to 29, and the loan may close early if the total loan amount of 3 billion KRW for the first half is fully applied for.

Small business owners and SMEs wishing to apply can download the application form from the 'Notices and Announcements' section on the Dongdaemun-gu website, fill it out, and bring the necessary documents such as the business registration certificate and value-added tax standard certificate. Applications can be submitted in person at the 'Small Business Support Team' on the basement level 2 of Dongdaemun-gu Office from March 11 to 29.

Submitted applications will be reviewed by the Small and Medium Enterprise Development Fund Operation Deliberation Committee to decide on support eligibility, and the loan amount will be finally determined within the repayment capacity of the selected businesses.

For more details, please check the 'Notices and Announcements' on the district website or contact the Small Business Support Team.

Lee Pil-hyung, Mayor of Dongdaemun-gu, stated, "We are providing low-interest loans to local small business owners and SMEs to help stabilize business activities and contribute to revitalizing the local economy. We will continue to seek various support measures so that small business owners and SMEs do not lose hope and can continue their businesses."

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