Seongbuk-gu of Seoul will provide loans amounting to 360 million won to social economy enterprises in the region in the second half of this year. This measure targets companies struggling to secure operating funds due to economic recession and management uncertainty.
The Seongbuk-gu Social Investment Fund loan program offers a fixed annual interest rate of 0.75%, with a maximum repayment term of five years using the equal principal and interest repayment method, without a grace period. Companies can apply for up to 40 million won each.
In the second half of this year, the eligibility range has been expanded to allow existing beneficiary companies to reapply. For example, a company that previously received 40 million won and repaid 30 million won can reapply for the repaid amount of 30 million won.
Applications will be accepted from August 18 to 22. Submissions can be made by visiting the 8th floor of the Regional Economy Department at Seongbuk-gu Office. Final support decisions and amounts will be determined following document review, on-site inspection, and committee review.
Seongbuk-gu expects this loan to alleviate financial difficulties and stabilize the management of social economy enterprises.
Seongbuk-gu Mayor Lee Seung-ro stated, “We will continue to support ultra-low-interest loans to help social economy enterprises overcome difficult times and grow.”
