Gwangjin-gu, Annual 1.8% Up to 200 Million Won Small Business Development Fund Loans

Up to 200 Million KRW Loan at 1.8% Fixed Annual Interest Rate for SMEs and Small Business Owners
Apply in Person at Gwangjin-gu Office Regional Economy Division from September 23 to 26, 4 Days

Gwangjin-gu (Mayor Kim Kyung-ho) is launching the ‘2024 Second Half Small and Medium Enterprise Development Fund’ loan support to alleviate the financial burden on small and medium-sized enterprises (SMEs) and small business owners struggling with high inflation and high interest rates.

The support scale is 1 billion KRW.

The support targets are SMEs and small business owners who have been registered as business operators in Gwangjin-gu for more than six months and have collateral ability according to bank credit regulations, such as real estate collateral or credit guarantees. ▲Those who have received benefits from other loan support projects ▲Businesses that are temporarily closed or closed ▲Those with national or local tax arrears ▲Businesses in finance, insurance, real estate rental, entertainment bars, etc., are excluded from support.

The loan conditions are a fixed interest rate of 1.8% per annum. Individual business owners can borrow from 30 million KRW up to a maximum of 100 million KRW, and corporate businesses from 30 million KRW up to a maximum of 200 million KRW. The repayment plan is a 1-year grace period followed by 3 years of equal installment repayments, and the funds must be used only for working capital, facility funds, or technology development funds.

Applications are open for four days starting from the 23rd. Applicants should visit the Gwangjin-gu Office Regional Economy Division (116 Jayang-ro, Welztower 2nd floor) with the loan application form, business plan, and other required documents attached. Detailed information can be found on the Gwangjin-gu Office website.

Kim Kyung-ho, Mayor of Gwangjin-gu, said, “We expect the financial burden on SMEs and small business owners struggling with the economic downturn to be reduced,” and added, “We will continue to actively promote various projects to stabilize management and improve the business environment.”

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