Mid-term HKMA 80% Lease Loan Late (1)
The distance between my home and my company is 2 hours and 30 minutes one way.It has been three years since I worked at a company for an average of five hours a day.I went to work every day, commuting the same distance between East Seoul Terminal and Sokcho.In the meantime, the relocation of the company’s office building has made it farther than the current street.Before 30, I wanted to live alone, and I was in a bad shape due to the prolonged commute, and I wanted to live a life with dinner, so I decided to save the lease.Currently, he has found a good house and completed the transfer report, and has succeeded in lending 80% of the lease to the Small and Medium Business Administration, and is living in a new house with great satisfaction.Furthermore, as the Small and Medium Business Administration, which was until 2021, was extended to 2023, I thought this was a golden opportunity.So I decided to proceed with 80 percent of the plans for the Small and Medium Business Administration.
Source: pixabay, Nathan Kanchanaprat
1. What is a youth loan for small and medium-sized enterprises?
The Small and Medium Business Administration stands for small and medium-sized enterprise youth lease loans and refers to products that lend monthly rent deposits at low interest rates to young people employed in small and medium-sized enterprises.Loans of up to 100 million won are available and consist of a fixed interest rate of 1.2% per year.As it is an unconventional interest rate, it can only be received by the Small and Medium Business Administration if it meets strict conditions.The loan period is the first two years and can be extended four times every two years for up to 10 years.However, when extending the Small and Medium Business Administration, certain conditions must be met, and if the conditions are insufficient, it will be changed to the level of interest rate on lease funds for general support.
2. What is the target of the small and medium-sized enterprise youth loan?
Employees of small and medium-sized enterprises or those who have received support for youth start-ups from the Small and Medium Business Promotion Corporation, the Trial Guarantee Fund and the Technology Guarantee Fund.
3. Middle and high school youth loan 100% vs 80%
Small and medium-sized enterprises’ youth loans are divided into 100% and 80%.
In the case of 100% of the Small and Medium Business Administration, it is in charge of the Korea Housing & Urban Guarantee Corporation (HUG) and can borrow up to 100 million won.Literally, it means that the Small and Medium Business Administration will lend up to 100 million won that can be supported.If you seek a lease of 120 million won, you can borrow up to 100 million won.In addition, when a loan is made with 100% of the Korea SMEs and Startups Agency, lease guarantee insurance is automatically subscribed.As it has exceptional benefits, the screening criteria are strict, but the loan is decided by judging the stability of the target object (base mortgage, senior deposit, official land price, etc.) rather than individual credit.
In the case of 80% of the Small and Medium Business Administration, it is organized by the Korea Housing Finance Corporation (HF) and can borrow up to 100 million won.This means that it will only support 80% of the cost of jeonse for sale.If 120 million won seeks a lease, only 96 million won, 80% of the lease price, can be borrowed.80% of the Small and Medium Business Administration does not automatically subscribe to lease guarantee insurance and reviews individual creditworthiness more important than building safety.Few places have guaranteed building stability.Therefore, 100% of the sales of the Small and Medium Business Administration are remarkably small, and 80% of the sales of the Small and Medium Business Administration are supplied to the market.
4. Progress of Youth Loan for Small and Medium Businesses
The process of the Small and Medium Business Administration is more complicated than expected.The general procedure is to view the sale > select the sale > bank provisional examination > provisional contract > fixed date > application for the HKMA > loan execution > balance processing > transfer report > deposit of brokerage fees.You can check the sale after undergoing a provisional review, or you can check the sale without undergoing a provisional review.The provisional examination referred to here refers to a procedure by which a bank checks the safety of a sale.If it is judged that the risk of a building is high, even workers who meet the conditions cannot receive a lease loan from the Small and Medium Business Administration.Therefore, it is wise to undergo a review before the contract of the Small and Medium Business Administration.However, personal documents, copies of registers, and building registers are required to undergo a provisional examination, so it is recommended to see the sale and undergo a provisional examination.A copy of the register and the building register can be issued by an individual, so please refer to it.For reference, the loan products of the Small and Medium Business Administration only carry out consignment contracts at designated banks, so it must be checked whether they are banks that handle the loan products of the Small and Medium Business Administration.Currently, lease loans from the Small and Medium Business Administration are handled only by Woori Bank, Kookmin Bank, Shinhan Bank, Nonghyup Bank, and Industrial Bank of Korea.