소상공인 재도전 특별자금 Small factory expands support for special re-challenge funds... “We will help small businesses take a leap forward again.”

소상공인 재도전 특별자금Restart business experience criteria reduced from 3 years to less than 7 years
Business closures and industry transitions are also recognized as eligible for support.

An overview of the Small Business Market Promotion Corporation. [Photo = Sovacuum]
[Seoul Economic TV = Reporter Jeong Chang-sin] The Small Business Market Promotion Corporation (Sovacuum), under the Ministry of SMEs and Startups, is offering ‘Re-challenge Special Fund’, a policy fund for small business owners, for small business owners who are re-starting businesses and those who have difficulty in smooth supply of funds due to high interest rates and small business owners who have faithfully repaid their debts. It was announced on the 4th that the scope of support has been expanded.

The ‘Restart Special Fund’ is a fund launched in April to promote the re-start of small business owners who have difficulty obtaining loans from private banks and the management stability of small business owners who faithfully repay after debt adjustment. Up to 70 million won at a fixed interest rate of 3.0% per annum. Support is provided for up to 5 years (2-year grace period, 3-year repayment).

With this reorganization, the scope of recognition for re-starting small business owners and debt restructuring sincere borrowers will be expanded, allowing more small business owners to receive policy funding support.

First, the support target for the ‘early stage’ of re-startup types was expanded and the business experience criteria was greatly relaxed from small business owners with less than 3 years of experience in re-starting businesses to small business owners with less than 7 years of experience.

In addition, the sales performance criteria for closed companies were also revised, and cases where business resumed or changed industries after closure were also included as eligible for support.

As for the type of debt adjustment, small business owners with faithful repayments are also recognized as eligible for support by the Credit Recovery Committee, and in addition to patients who have made faithful repayments more than six times after debt adjustment, small business owners who have completed faithful repayments within the past three years are also eligible for support.

Applications and applications for the September Re-try Special Fund will be held online on the Small Business Policy Fund website from 9:00 am on September 4th to 6:00pm on September 8th. Details can be found in the notices on the website.

Park Seong-hyo, chairman of the Small Business Corporation, said, “The special re-start fund is a fund for the re-start of small business owners who have re-started their businesses and faithfully implemented debt restructuring,” adding, “Through this expansion of the target, more small business owners will be able to take a leap forward and grow by receiving support from policy funds.” “It is expected,” he said. /csjung@sedaily.com

[ⓒ Seoul Economic Daily TV (www.sentv.co.kr), unauthorized reproduction and redistribution prohibited]
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Reporter Jeong Chang-shin
Industry Division 1

csjung@sedaily.com
02) 3153-2610

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