Incheon to Provide 50.5 Billion Won in Business Stabilization Funds for Small Businesses Ahead of Chuseok

Ahead of the Chuseok holiday, when demand for funds surges, the city of Incheon is providing 50.5 billion won in business stabilization funds to small business owners.

The support is targeted at small businesses and micro-enterprises with places of business in Incheon, with a loan limit of up to 50 million won per entity.

The city will support recipient businesses with 2 percent interest per annum for the first year, and 1.5 percent per annum for the subsequent two years, expecting about 1,700 small business entities to benefit.

In January and March of this year, business stabilization funds totaling 100 billion won and 114.5 billion won, respectively, were also provided to small business owners.

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.