미소금융 창업대출So, what we will summarize today are microfinance startup loans, operating capital loans, and facility improvement loan loans. Since the interest rate and limit are different for each loan condition, business owners preparing to start a business or existing businesses are advised to read this loan carefully.
Microfinance business start-up loans are available to (planned) start-ups if they meet one of the following requirements:
Even if you are eligible for a loan, the final loan decision will be made based on the results of the credit review.
The loan interest rate is less than 4.5% per year, and 2% per year is applied when starting a business as an unregistered business.
In the case of start-up funds, different loan limits are applied depending on the purpose of the funds. Support is provided within the rental deposit only to those whose self-funding ratio is 50% or more of the total business funds.
Those planning to start a business
Up to KRW 70 million *Support within the rental deposit for the business site
Operating funds at the beginning of a start-up and facility funds at the beginning of a start-up (for (planned) start-ups, less than 6 months of business registration)
20 million won each *10 million won for new loans + additional 10 million won available for faithful repayment through microfinance
Those who start a business as an unregistered business
Up to KRW 5 million (interest rate of 2.0% per annum applied)
Those who purchase a vehicle for livelihood purposes
Up to 20 million won, unregistered business up to 10 million won
The loan period can be up to 6 years, with a grace period of less than 1 year and a repayment period of less than 5 years.
The repayment method is to repay a certain amount (principal + interest) every month in equal installments of principal and interest.
Eligibility for a microfinance operating fund loan is available to existing businesses that meet one of the following requirements.
Even if you are eligible for a loan, the final loan decision will be made based on the results of the credit review.
The loan interest rate is within 4.5% per year, and if you operate as an unregistered business, an interest rate of 2.0% per year is applied.
If you have received support for microfinance loans of similar nature, this will be deducted from your loan limit and supported.
The loan period can be set to a maximum of 5 years and 6 months, with a grace period of up to 6 months and a repayment period of up to 5 years.
The repayment method is to repay a certain amount (principal + interest) every month in equal installments of principal and interest.
Eligibility for a microfinance facility improvement loan is available to existing businesses that meet one of the following requirements:
Even if you are eligible for a loan, the final loan decision will be made based on the results of the credit review.
The loan interest rate is within 4.5% per annum and the loan limit is up to 20 million won.
The loan period can be set to a maximum of 5 years and 6 months, with a grace period of up to 6 months and a repayment period of up to 5 years.
The repayment method is to repay a certain amount (principal + interest) every month in equal installments of principal and interest.
Applications for microcredit start-up loans, operating funds, and facility improvement loans can be made at the National Microfinance Integration Support Center and microfinance branches. Loan applications are processed according to the procedures below.
◈ Common documents – ID card (resident registration card, driver’s license, passport, etc.) – resident registration certificate – business registration certificate – business rental agreement
◈Income/Sales Confirmation Documents – Value-added tax base certificate, etc.
◈Cash flow confirmation documents – copy of main transaction bankbook, etc.
1. Cases where the expected borrowings are too high and exceed the repayment capacity 2. If there is a problem with personal credit, such as delinquency, bankruptcy, rehabilitation, etc. 3. In case of escaping or concealing liability property or causing other acts to reduce liability property 4. If legal procedures such as provisional registration, seizure, provisional disposition, or auction are in progress on property owned by the applicant.
Microcredit startup loans take approximately 3 to 4 weeks from application to loan approval.
In the case of a start-up loan, the limit is only the amount of your start-up capital. If you have 40 million won in start-up capital, you can only borrow 40 million won out of the 70 million won limit.
So far, we have looked at microfinance startup loans, operating capital loans, and facility improvement loan loans. Microcredit startup loans can only be loaned up to the amount of startup capital you have. If I have 50 million won in start-up capital out of the total loan limit of 70 million won, I can only borrow 50 million won.
Additionally, the loan can only be used as a commercial deposit. If the commercial deposit is 50 million won, only 50 million won can be loaned and 20 million won cannot be used separately as start-up capital. According to many reviews, even if you have 50 million won in start-up capital, if your expected capital is 20 million won, only 30 million won of your start-up capital will be recognized. Microfinance loans have quite strict limits, so it would be best not to expect that the limit will be reached.
If you have received a loan for microfinance startup funds, operating funds, or facility improvement funds and are repaying it faithfully, you can receive additional emergency funds.
Recently, it is said that a large number of spam texts such as ‘Government-supported livelihood stability support fund’, ‘expansion of emergency welfare support targets’, and ‘New Hope Seed’ are being sent by text or email impersonating the Korea Inclusive Finance Agency and other organizations. Please never contact the phone number or click on the link listed in the spam text message. If you have any questions about microfinance loans, please contact the Microfinance Telephone Counseling Center directly at 1397.
