Hello, I’m Nomiki, the blogger 😀
Today, we’re here to help young people who are working at small and medium-sized enterprises or who are looking for a job.
Let’s learn about the “Small and Medium Business Youth Jeonse Loan.”
Small and medium-sized enterprises’ lease loans are often referred to as the Small and Medium Business Administration and are supported by the government.
It is handled by Woori Bank, Kookmin Bank, Industrial Bank of Korea, Nonghyup, and Shinhan Bank.
It can be seen as providing housing to young people at a lower interest rate of 1.2% per year compared to other lease loans.
However, as the benefits are large, small and medium-sized enterprises can only be used if the conditions are met.
Let’s look at the overall conditions and application methods for using the youth lease loan (Mid-Term Administration) for small and medium-sized enterprises.
– Basic Conditions for Small and Medium Business Youth Lease Loan
The basic application conditions for youth lease loans from small and medium-sized enterprises are as follows.
1. Homeless persons aged 19 to 34 years old (For those discharged from the military, they can be extended to up to 39 years of service)
2. It is possible for employees of small and medium-sized enterprises or mid-sized enterprises based on the date of application (one month full-time salary required)
3.. Annual income less than 35 million won, and annual income less than 50 million won based on the sum of couples.
4. The rental deposit of the target house must be less than 200 million won and less than 85m2
(Registered apartments, urban dwellings, residential officetels, etc.)
In addition, the loan period can be extended up to four times, starting with the first two years, and can be used for up to 10 years.
The maximum is less than 100 million won, and I will explain the details in the table of contents below.
– The difference between 100% and 80% of lease loans for young people in SMEs
There is one thing that people who want to use the lease loan for young people from small and medium-sized companies are most curious about.
You look up the most what’s the difference between a 100% loan and an 80% loan.
The biggest difference is that you can literally receive 100% or 80% within the limit of 100 million won.
First of all, 100% is guaranteed in a place called “Housing City Guarantee Corporation” called Hug.
80% is guaranteed by the Korea Housing Finance Corporation, so the guarantee agency is different.
100% of the Small and Medium Business Administration = Automatic subscription to return guarantee insurance guaranteed by the Housing City Guarantee Corporation and guaranteed by the Housing City Guarantee Corporation.
80% of the Small and Medium Business Administration = guaranteed by the Korea Housing Finance Corporation and signed up for the Korea Housing Finance Corporation’s lease protection guarantee.
In the case of a house where the “evaluation of appraisal” has been completed, it is possible to subscribe to the Hug Return Guarantee Insurance of the Housing City Guarantee Corporation.
In this way, there is a difference from the loan limit to the guarantee agency.
The second thing you’re curious about is what the loan limit will be if it exceeds 100 million won.
Basically, the loan limit is set at 100 million won, but there is a clear difference.
If 100% of the Small and Medium Business Administration exceeds 100 million won, a 100% loan limit will be incurred up to 100 million won.
Whether it’s 105 million won or 110 million won, you can borrow up to 100 million won, so you only need an additional amount.
80% of the Small and Medium Business Administration may not have a loan limit of up to 100 million won if it exceeds 100 million won.
For example, when I try to sign a 120 million won house, I sometimes think I only need to use 20 million won.
If you calculate 80% of 120 million won, you will need 24 million won in real deposit.
If you want to use 80% of the Small and Medium Business Administration to generate a loan limit of 100 million won, you can consider it possible from 125 million won.
– 100% conditions for lease loans for young people in small and medium-sized enterprises
Most of the time, if you try to contact the real estate office to find out about your house,
Even if there are few houses that make up 100% of the total, there are often only a few items for sale that have no choice.
The most basic condition of a house that can use 100% of the Small and Medium Business Administration is the “multi-family housing price.”
The price of this apartment house is also called the “public land price” and is announced by the Ministry of Land, Infrastructure and Transport every year.
within 150% of the announced value of the house,
Alternatively, 100% of the Small and Medium Business Administration is available if the lease price is indicated based on the “real transaction price.”
– Procedures and required documents for lease loans for young people in SMEs
In the case of applying for a lease loan for young people from small and medium-sized enterprises, you can apply both online and offline.
If you find your favorite house, you can fill out the contract through a licensed real estate agent and prepare the necessary documents.
For online applications, you can apply non-face-to-face through the “Fund Eden” application or website.
Offline applications can be applied after submitting documents by visiting the fund’s trustee bank, which handles lease loans for young people from small and medium-sized enterprises.
Today, we learned about lease loans for small and medium-sized enterprises that provide housing to young people who are homeless.