Gapyeong-gun to Support 4 Billion Won in Special Guarantees for Small Business Owners... Expected to Ease Financial Difficulties

by Lee jonggu

Published 08 Jan.2025 15:17(KST)

Interest Support and Credit Guarantee Fee Burden Relief

Gapyeong-gun, Gyeonggi Province (Governor Seo Tae-won) announced that it will implement the "2025 Special Guarantee Support Project for Small Business Owners" starting from the 8th to support local small business owners struggling with financial difficulties.

A view of Gapyeong County Office. Provided by Gapyeong County.

This project involves Gapyeong-gun providing a budget to the Gyeonggi Credit Guarantee Foundation, which in turn supports small business owners in obtaining loans from financial institutions based on this funding.

This year, Gapyeong-gun contributed 400 million KRW for special guarantee support and 100 million KRW for credit guarantee fee support. Accordingly, small business owners located in Gapyeong-gun can receive special guarantees worth up to 4 billion KRW, which is ten times the contribution amount. Additionally, through the small business special guarantee project, small business owners can borrow up to 50 million KRW, and the county will also support the credit guarantee fees incurred during the loan process.

Furthermore, for loan amounts of 30 million KRW or less, interest support under the special guarantee will be provided as in the previous year, offering up to 3% annual interest support for a maximum of three years to reduce the financial burden on small business owners. This special guarantee support project for small business owners will continue until the budget is exhausted.

Governor Seo Tae-won stated, "Following last year, we hope this special guarantee support project will provide practical help to small business owners who have suffered due to the economic downturn," and added, "We will continue to prepare various support measures to revitalize the local economy."

For more details about the special guarantee support project for small business owners, please contact the Small Business Support Division of Gapyeong-gun Office or the Gyeonggi Credit Guarantee Foundation.