I Grow Local Eateries... Promoting 'Our Neighborhood Crowdfunding'

Investing in Promising Small Businesses in Our Neighborhood
Supporting Over 1,800 Companies

The Ministry of SMEs and Startups announced on the 14th that it will promote the 'Our Neighborhood Crowdfunding Project,' which helps small business owners receive investments and loans from local residents, office workers, investors, and others.

Our Neighborhood Crowdfunding is a project that connects promising small business owners with investors so that they can receive returns in cash profits and in-kind rewards. It supports the costs needed for funding and success incentives for small business owners. Through this, small business owners can secure the funds necessary for business operations while reducing interest burdens, and by offering product coupons or discount vouchers as rewards, they can also enjoy the effect of acquiring customers.

Through this project, a total of about 1,800 companies will be supported through six managing institutions, including 1,350 loan-type companies, 400 sponsorship-type companies, and 50 securities-type companies, to help small business owners who have difficulty raising funds attract private capital. A new 'Commercial District Neighborhood Funding' will also be introduced targeting traditional markets, alley-type shopping districts, and small business clusters.

Oh Young-joo, Minister of SMEs and Startups, said, “The Our Neighborhood Crowdfunding Project encourages local residents to fund their favorite local restaurants, cafes, and more, allowing small business owners to enjoy both funding and customer acquisition effects.” He added, “We will continue to promote customized funding support projects reflecting the characteristics of small business owners to transform promising small businesses into lifestyle innovation companies and local anchor companies.”

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