Small hole.
[충남일보 김현수 기자] The Ministry of SMEs and Startups and the Small Business Market Promotion Corporation will provide new ‘Low Credit Small Business Funds’ from the 29th to help alleviate the management difficulties of low credit small business owners.
Low-credit small business funds are dedicated funds for small business owners who have difficulty raising funds through private financial institutions due to low credit, and are provided as direct loans to small business owners.
Those eligible for support are small business owners with a CEO’s personal credit rating (NCB 744 points or lower) among businesses with more than 90 days of business experience who have previously completed credit management training at the Small Business Knowledge Learning Center.
Up to 30 million won will be supported for 5 years (2-year deferral, 3-year repayment) at a variable interest rate (5.49% in the first quarter) that is 1.6% per annum added to the policy fund base interest rate. In addition, to promote credit recovery for small business owners with low credit, an ‘interest rate reduction system’ was introduced that lowers the interest rate by 0.5 percentage points if credit rating improves one year after loan implementation.
In addition, in order to select and support small business owners with low credit but business feasibility and competitiveness, we plan to grant a loan limit by evaluating business feasibility, such as business competitiveness, in addition to the credit score of the representative.
However, applications cannot be made if they are subject to restrictions on direct lending of small business policy funds, such as tax delinquency, delinquency, business suspension or closure, industries excluded from loans, infringement on business or private housing rights, total erosion of equity capital, excessive debt ratio and borrowing, etc. In the case of corporate business owners, A separate responsible management review is conducted on the corporation and its CEO to confirm disqualification requirements and, if the evaluation results are insufficient, loans are restricted.
Applications and applications will be accepted online at the Small Business Policy Fund website starting at 9 a.m. on the 29th.
For individual business owners, the entire process, from online application, screening, and agreement, is conducted non-face-to-face. For corporate businesses, after online application and screening, the CEO must visit in person according to the guidance of the regional center and enter into a written agreement.
For detailed information, please check the announcement on the Small Business Policy Fund website or receive guidance from the Small and Medium Business Integrated Call Center and the Small Business Market Promotion Corporation’s 77 regional centers.
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