Miryang City Recognized for Outstanding Contribution⁤ to Small Business Credit Guarantee Fund

Miryang City in Gyeongnam Province has ​been selected as an excellent local government for ⁤its‌ contribution to the⁢ 2024 Small Business Credit Guarantee Fund, hosted by the Gyeongnam Credit⁢ Guarantee Foundation. The city received a plaque of appreciation for its efforts.

The Gyeongnam Credit Guarantee Foundation is a public⁤ guarantee institution that supports the local economy by guaranteeing debts of⁣ small and medium-sized enterprises⁤ and small business owners in the province. The foundation has been recognizing cities and counties with excellent contribution performance and ⁤presenting plaques of appreciation since last year.

This year, Miryang City was selected for its‌ outstanding contribution ⁢and will receive support, including priority allocation for the Gyeongnam Credit Guarantee ‍Foundation’s own small business management guidance project.

Since signing a contribution agreement with the Gyeongnam Credit Guarantee Foundation in 2020,⁢ Miryang City has contributed 3.4 billion won over five years to support local small businesses. This year, the city contributed 800 million won, a 133% increase from last year’s 600 million won.

As a result, the Korea Credit Guarantee Fund was able to provide a total of 10.2 billion won in ‌loan guarantee support to small business owners.

Mayor Ahn Byung-gu stated, “We have expanded ‍credit guarantee resources for small business owners compared to last year to provide practical help ⁤and stability to ⁤those struggling with fund management.” He added, ⁣”We will continue to support local small⁤ business owners by discovering customized support projects and providing financial assistance.”