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Special guarantee for small businesses eases interest burden: up to 50 million won, funding at interest rates around 1.0%
AI 3-line summary
- The Ministry of SMEs and Startups and the Korea Federation of Credit Guarantee Foundations announced that the 'Special Guarantee for Small Businesses' will be implemented from October through 17 Regional Credit Guarantee Foundations.
- The maximum guarantee limit is 50 million won, the guarantee ratio is 100%, and the interest rate will be set between a minimum of 1.0% and a maximum of 3.5% per year.
- Small businesses and others whose sales have dropped by 10% or more are eligible, while delinquent borrowers and businesses that have closed or suspended operations are excluded, and applications are accepted non-face-to-face through the regional foundations' websites.
Summary written by AI from the original article · 88 languages
Read the full article (machine translation) → Original article (Korean): 금리 부담 낮춘 ‘소상공인 특례보증’… 최대 5,000만 원, 금리 1.0%대 자금지원
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