Uljin County Eases Loan Burden for Small Businesses with 6 Billion Won Financial Support

Uljin County in Gyeongbuk Province will provide guarantee support to help local small business owners facing financial difficulties, enabling them to borrow up to 6 billion won. Under this program, Uljin County will deposit 500 million won into the Gyeongbuk Credit Guarantee Foundation to facilitate a total of 6 billion won in guarantees. This initiative will allow small business owners to access loans more easily and reduce their interest expenses.

In connection with this initiative, Uljin County signed a business agreement last month with the Gyeongbuk Credit Guarantee Foundation and 11 local financial institutions. Guarantees of up to 50 million won per business can be obtained based on an individual's credit score. To alleviate interest burdens for small business owners, up to 5% of the loan interest will be subsidized annually for two years.

Applications can be made by visiting the Gyeongbuk Credit Guarantee Foundation's Eastern Center Pohang branch or through non-face-to-face applications via the mobile app 'Guarantee Dream'. After the guarantee certificate is issued, loans can be obtained through the partner financial institutions.