SEMAS Begins Accepting Applications for Loan Extensions and Repayment Deferrals for Small Businesses Affected by Homeplus

The Small Enterprise and Market Service (SEMAS) announced today (October 6) that it has begun accepting applications for "policy fund loan maturity extensions and repayment deferrals" to ease the loan repayment burden on small businesses affected by Homeplus.

Previously, to ensure management stability for small businesses affected by Homeplus, SEMAS provided "temporary management difficulty funds" with a maximum limit of 100 million won, set at 0.5 percentage points lower than the standard policy fund interest rate.

This measure follows the financial support and is designed to further reduce the burden of existing loan repayments, enabling affected small business owners to maintain their operations and focus on business recovery.

The eligible applicants are small businesses holding SEMAS policy funds who are currently repaying the principal or whose loans are set to mature within the year, among tenant companies and suppliers affected by Homeplus.

They can extend their loan maturity by 12 months, and only interest will be paid during the deferral period.

Applications can be submitted starting today on the Small Enterprise Policy Funds website.

SEMAS Chairman In Tae-yeon said, "We will closely monitor difficulties on the ground and spare no support to help affected small business owners recover their operations as soon as possible."

(Photo provided by Small Enterprise and Market Service, Yonhap News)
※ Please note: This article was translated by AI and may contain errors.