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SMEs, self-employed in S. Korea affected by COVID-19 can now apply for low-interest loans

2020-04-01 29 Dailymotion

소상공인 직접대출 오늘부터 본격 시행…"하루 2천건 처리 예상"<br /><br />Small and mid-sized firms, owners of very small businesses and self-employed people in South Korea that are struggling to make ends meet due to the coronavirus outbreak can begin applying for special emergency loans from Wednesday.<br />The Ministry of SMEs and Startups says they can apply for an immediate, low-interest loan of up to eight-thousand-two-hundred U.S. dollars.<br />Explaining it has implemented a smart waiting system to stop a big rush,... the ministry says it expects to process over two-thousand loans every day.<br />The interest rate on the loans is a flat one-and-a-half percent.<br />This is part of President Moon Jae-in's small business rescue package worth 39 billion dollars that was announced last month as a response to the coronavirus pandemic.<br />

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