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Seoul Targets Repayment Burden on Small Businesses
AI 3-line summary
- Seoul will provide 2.4 trillion won in small and medium business support funding this year, cut the add-on interest rate by 0.1 percentage points and fully waive early repayment fees.
- The add-on interest rate for cooperative funds with 16 commercial banks will drop from 1.7–2.2% to 1.6–2.1%, and 2.2 trillion won in policy funds will be supplemented by 200 billion won in special guarantees.
- Applications for funds will be accepted from January 2 through the Seoul Credit Guarantee Foundation's mobile app and other channels, while funds for vulnerable businesses and the Safe Account will be announced separately.
Summary written by AI from the original article · 88 languages
Read the full article (machine translation) → Original article (Korean): 서울시, 소상공인 ‘상환 부담’ 정조준…가산금리 내리고 중도상환수수료 없앤다
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