From the 25th… 1.9% fixed interest rate per year
From the 25th, 10 million won will be loaned to small business owners in the business prohibited from gathering due to social distancing measures. The loan interest rate is a fixed rate of 1.9% per year, and the loan period is 5 years after a 2-year deferment and 3-year amortization.
On the 24th, the Ministry of SMEs and Startups announced that it will use KRW 1 trillion in policy funding for small businesses as a measure in accordance with the’customized damage support measures’ announced at the Emergency Economy Central Countermeasure Headquarters meeting in December last year.
The target of the support is the small business owners who are renting a building of another person and operating a business that has been banned due to measures to strengthen social distancing between the heavy script and local governments since November 24 last year.
Businesses prohibited from gathering include five entertainment facilities such as entertainment bars and collages nationwide, as well as singing practice rooms, indoor standing performance halls, indoor sports facilities, and academies in the metropolitan area.
From 9 am on the 25th, individual business owners can apply for the Shinhan Bank application, and corporate business owners can apply at the website of the Small Business and Business Corporation. The application must be made by the representative himself.
If it is difficult to use online, you can apply with the help of the staff of Shinhan Bank branch offices or the local center of the Small Business Market Promotion Corporation, but in this case, the application must be made in the name of the representative.
Small business owners who are not included in the support fund can apply by visiting the Regional Center of the Small Business Market Promotion Corporation after issuing a confirmation of prohibition of gathering.
The SMEs explained, “It is expected that it will take 4 to 6 days from the application to the execution of the loan,” and that “a free tenant who is not eligible for rent loan support will be confirmed after the fact and collect the loan.” / Reporter [email protected]
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