Uljugun Begins First Round of Applications for Special Guarantee Program for Small Businesses
Up to 30 Billion KRW in Loans Available Starting May 28
Special Guarantee Program for Small Business Owners in Uljugun
Applications Open Regardless of Credit Rating, Overlapping Loans Permitted
Uljugun in Ulsan will begin accepting the first round of applications for the 'Special Guarantee Support Program for Small Business Financing' starting May 28.
On May 26, Uljugun announced that it would first accept applications for the initial 30 billion KRW portion of the special guarantee program, which has a total budget of 60 billion KRW. The program is open to small business owners within Uljugun, regardless of their credit rating. However, those who are in arrears or have overdue taxes are excluded.
The maximum loan limit per applicant is 80 million KRW, and refinancing or overlapping loans are also permitted. The repayment condition is a lump-sum payment after a two-year grace period, with an interest subsidy of 3% per year provided for two years.
Applications can be submitted in person at the Munsu Hall on the first floor of the Uljugun Office, or online through the Ulsan Credit Guarantee Foundation website. In-person applicants must bring their ID, business registration certificate, a certified copy of corporate registration if applying as a corporation, and if applying by proxy, a power of attorney and the proxy's ID.
After the first round of applications, the Ulsan Credit Guarantee Foundation will provide guarantee consultations for individual applicants. More detailed information can be found in the announcement on the Uljugun Office website.
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An official from Uljugun stated, "We believe this special guarantee program will provide practical help to local small business owners facing financial difficulties," adding, "We expect that interest subsidies and relaxed application requirements will help reduce their financial burden."
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