A maximum of 10 million KRW can be borrowed by a small business owner
[도한우 기자] The interest rate of the’Financial Assistance Program to Support Small Businesses’ for small business owners suffering from Corona 19 will be lowered to an annual interest rate of 2% at major banks starting on the 18th, and secondary loans of up to 10 million won to tenant small business owners belonging to the collective restricted business. Can be received.
The Financial Services Commission, the Federation of Banks and the Credit Guarantee Fund announced on the 14th that they have reorganized their financial support programs to support small business owners suffering from the third spread of the novel coronavirus infection (Corona 19).
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.
Secondary loans are up to 20 million won for all small business owners. However, corporate business owners and small business owners who have spent more than 30 million won in their primary financial support programs (IBK ultra-low interest rate loans, commercial bank secondary preservation loans, and small business and business management funds) are not eligible. Interest rates are applied collectively. 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.
In addition, a special loan program was prepared to support the reduction of the rent burden of small business owners, whose damage was concentrated due to the collective restrictions.
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 them, small business owners who have signed a lease contract can apply for an additional loan of up to 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.
As for the guarantee fee, the first year guarantee fee is exempted during the five-year loan period, and 0.6% is applied, down 0.3% points from the previous 0.9% in the second to fifth years.
The interest rate is at the same level as the secondary loan for financial assistance for small businesses.
The special loan program for small business owners will be announced separately in January by the Ministry of SMEs and Startups.
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.
To apply, you need 6 documents including a business registration certificate, VAT standard certificate, national and local tax tax payment certificate, lease contract, income amount certificate, and a’certification of 2 million won of supporting fund’.
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