Chungnam Province Provides 5 Billion Won in Special Management Stabilization Funds to Small and Medium Enterprises

Up to 100 Million KRW Support Per Company

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Chungnam Province announced on the 2nd that it will provide a special management stabilization fund of 5 billion KRW to small and medium-sized enterprises ahead of Chuseok.

The support is available to companies that have received a management stabilization fund loan for small business owners (non-guaranteed) and whose loan agreement period has not yet expired. Companies that are currently repaying the principal of the management stabilization fund or have received the previous holiday special management stabilization fund loan within the past year after the interest support period has ended are excluded.

The maximum support amount per company is 100 million KRW, with a loan period of two years. The province plans to support 2 percentage points of the loan interest rate agreed upon between the company and the bank.

The application period is until the 11th, and companies can receive a loan recommendation letter through the Chungnam Economic Promotion Agency's SME fund system and then apply for the loan.

A provincial official said, "Many companies are facing difficulties due to the ongoing high interest rates and rising raw material prices," adding, "We will ensure timely and swift support of policy funds to help resolve the management difficulties of companies in the province."

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