Geochang County Launches Small Business Management Stabilization Fund Support Program

Applications Accepted on the Gyeongnam Credit Guarantee Foundation Website Starting July 1

Geochang County, South Gyeongsang Province, will implement the "2025 Second Half Geochang County Small Business Development Fund Support" project starting July 1, 2025, to help stabilize the management and strengthen the self-reliance of small business owners facing difficulties due to the economic downturn.

The total loan amount available is 2.7 billion won. Small business owners can apply for loans of up to 50 million won per business through NH Nonghyup Bank Geochang Branch, Geochang Saemaeul Geumgo, Kyongnam Bank Geochang Branch, and Shinhan Bank Geochang Branch. To ease the financial burden on small business owners, Geochang County will provide support for loan interest rates of up to 4% per year for two years, as well as 50% of the credit guarantee fee.

Geochang County Office building.

Small business owners wishing to apply for a loan must first make a guarantee consultation reservation on the website of the Gyeongnam Credit Guarantee Foundation and then visit the branch on the reserved date. Alternatively, if they prefer a non-face-to-face process, they can undergo screening through the "Regional Credit Guarantee Foundation Integrated Platform" app. Applications will close once the available loan funds are exhausted.

The recipients eligible for the Geochang County Small Business Development Fund Support are small business owners who have registered their business in Geochang County and have obtained a credit guarantee certificate from the Gyeongnam Credit Guarantee Foundation. For mining, manufacturing, construction, and transportation industries, businesses with fewer than 10 regular employees are eligible, while for other industries, businesses with fewer than 5 regular employees qualify.

However, businesses related to luxury or entertainment, businesses that are temporarily closed or have ceased operations, those in arrears on national or local taxes, and industries restricted from guarantees by the Gyeongnam Credit Guarantee Foundation are excluded from eligibility.

Kim Mijeong, head of the Economic and Business Department, stated, "I hope that this second half-year support for small business development funds will help stabilize the management of small business owners. We will continue to do our best to support small businesses in the future."

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