Busan Achieves 10,000 Cases and 50 Billion Won in 'Three Zero Hope Connection Special Finance'... Supporting Small Business Stability

Targeting 40,000 Cases and 200 Billion Won by Next Year

The "Three Zero Hope Connection Special Finance" program for small business owners, promoted by Busan City, has achieved 10,000 cases and a total execution amount of 50 billion won within just six months of implementation.

Busan City announced on November 13 that the "Three Zero Hope Connection Special Finance," which has been in operation since May, surpassed 10,000 cases as of November 7. The city evaluated this achievement as providing substantial financial support to local small business owners amid the economic downturn and the burden of high interest rates.

The city aims to reach a total of 40,000 cases and 200 billion won by next year. To achieve this, it will strengthen promotional activities for citizens in cooperation with Busan Bank and the Busan Credit Guarantee Foundation and continue on-site, community-based promotions focused on traditional markets and neighborhood commercial districts.

The Three Zero Hope Connection Special Finance consists of Track 1 "Credit Card" and Track 2 "Comprehensive Account Loan." Each product offers guarantee support of up to 5 million won, and by using both products together, applicants can receive support of up to 10 million won.

Track 1, the credit card, offers benefits such as interest-free installments (up to six months), annual fee exemption, and the ability to apply without visiting a branch. Track 2, the comprehensive account loan, provides no guarantee fees, unlimited credit evaluation, and non-face-to-face application. Notably, the program also includes a benefit that returns 3% of credit and debit card spending as "Dongbaekjeon Cashback," up to an annual limit of 100,000 won.

Eligible applicants are small business owners with business locations in Busan who meet the following criteria: at least six months of business operation, a credit score of 595 or above, and annual sales of at least 12 million won or sales of at least 3 million won in the most recent three months. A credit score of 595 or above corresponds to the previous credit rating levels 1 to 7, which includes 95.5% of the total population.

Applications can be submitted non-face-to-face through the "Bojeung Dream App" of the Busan Credit Guarantee Foundation or the Busan Bank mobile banking app. The entire process, from guarantee application and review to guarantee certificate issuance, is handled via mobile. Digitally vulnerable groups can make a counseling reservation on the Busan Credit Guarantee Foundation website and then visit a branch for in-person application.

This year, the city is supporting the business stability of local small and medium-sized enterprises and small business owners through a record-high policy fund of 2.033 trillion won.

Park Hyungjun, Mayor of Busan, emphasized, "Reaching 10,000 cases is the result of creating support that citizens can truly feel, in cooperation with local financial institutions," adding, "We will continue to provide substantial financial support for the business stability and renewed growth of small business owners."

Busan City Hall.

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