Small business owners can receive secondary loans from major banks at an annual interest rate of 2% from the 18th.
For small business owners in limited collective business, a special support program will be launched that allows them to receive additional loans of up to 10 million won.
The Financial Services Commission announced on the 14th that it has reorganized its financial support program to support small business owners suffering from the third spread of the novel coronavirus infection (Corona 19).
Secondary loans for small business owners will drop the maximum interest rate by up to 2 percentage points from the receipt on the 18th.
On the 9th of last month, the banking sector decided to cut the highest interest rate by 1 percentage point from 4.99% per year to 3.99% per year, but Kookmin, Shinhan, Woori, Hana, Nonghyup, and IBK decided to cut it by 1 percentage point.
Accordingly, interest rates of 2% per year are applied collectively at these six banks.
Previously, interest rates on loans were around 2-4% per year.
Other banks can receive loans at an annual interest rate of 2-3%.
In addition, the first-year guarantee rate of the five-year loan (2-year deferred, 3-year amortization) period will drop 0.6 percentage points from 0.9% to 0.3%.
Secondary loans can be received by all small business owners up to 20 million won.
However, corporate business owners and small business owners who have spent more than 30 million won in their primary financial support program (IBK’s ultra-low interest rate loan, commercial bank secondary preservation loan, and the Small Business Development Corporation’s management stabilization fund) are excluded.
The government has also prepared a special loan program to reduce the burden of rent for small business owners, whose damage is concentrated due to the collective restriction.
Among the supporting funds, which began to be paid on the 11th, small businesses (individual businesses) who can apply for 2 million won are eligible for support.
Among these, small business owners who have signed a lease contract can borrow up to an additional 10 million won regardless of whether they use the existing small business financial support program.
The business categories that are restricted in the 2.5th step of distance positioning currently in effect in the metropolitan area are restaurants, cafes, PC rooms, performance halls, beauty salons, marts, and game rooms.
There is also a 0.9% guarantee fee reduction benefit.
The first year guarantee fee is exempted, and in the second to fifth years, 0.6% is applied, down 0.3% points.
Interest rates are at the same level as secondary loans for small businesses.
An official from the Financial Services Commission said, “Currently, 12 commercial and regional banks operating secondary loans are undergoing final checks on the construction of the computer system.” Said.
The 12 banks are Kookmin, Nonghyup, Shinhan, Woori, Hana, Corporate, Gyeongnam, Gwangju, Daegu, Busan, Jeonbuk, and Jeju.
/yunhap news