by Park Haesook
Published 21 Jul.2025 09:03(KST)
On July 21, Incheon Credit Guarantee Foundation announced that it is currently accepting applications for the 'Small Business Win-Win Partnership Agreement Guarantee' in collaboration with K Bank as part of measures to stabilize the livelihoods of ordinary citizens.
K Bank made a special contribution of 3 billion KRW in guarantee funds to the Incheon Credit Guarantee Foundation to promote regional win-win finance. Based on this, the foundation will provide a total of 45 billion KRW in operating capital loans to small and medium-sized enterprises (SMEs) and small business owners in Incheon.
The support is available to SMEs and small business owners in Incheon recommended by K Bank, with a maximum loan of up to 100 million KRW per business. The guarantee fee is 1% per annum, and the loan period is five years (one year of grace period followed by four years of equal principal repayment).
Applicants who have received guarantee support within the past six months, belong to restricted business sectors (such as luxury or entertainment), or meet guarantee restriction reasons (such as delinquency, arrears, or excessive debt) may be excluded from eligibility.
An official from the Incheon Credit Guarantee Foundation stated, "We have established this agreement guarantee to support SMEs and small business owners who are struggling due to the downturn in domestic demand and worsening liquidity."
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