(Seoul = Yonhap Infomax) Reporter Jung Won = The Financial Services Commission announced that a total of 1,126 loan applications were received on the 27th, the first day of the consultation for micro-living loans.
They found that 68 out of a total of 1,264 retention applications were not eligible for assistance because they did not meet the requirements of low credit or low income, tax delinquency, or financial disorder.
The average loan amount was approximately 651,000 won.
Among the loan applications received, there were 764 cases for loan amounts of 500,000 won, and 362 cases more than 500,000 won for hospital expenses and other proven sources of finance.
In addition, among the loan counseling cases that day, 536 debt modification counseling requests, 248 welfare contact cases, 109 employment support cases, and 92 dormant deposit inquiry cases were also supported.
The small livelihood loan is a program that provides a maximum of 1 million won to the vulnerable, who are easily exposed to illegal private financing due to difficulties in using the lending business.
The loan limit is 1 million won, and additional loans are possible if the initial loan is 500,000 won and the interest is faithfully repaid for more than 6 months.
The interest rate is 15.9% per annum, but it drops to 9.4% per annum when financial education is completed and repayment is made in good faith.
This article was served at 21:22 on the Infomax financial information terminal.
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