소상공인 대환대출 신청방법2. The government has established a refinancing loan policy that allows small business owners to switch to low-interest loans.
3. You can apply if it is a loan with a high interest rate of 7% or more or a loan for which you have received a certificate of difficulty extending the maturity.
After COVID-19, the debt burden of many small business owners has increased significantly. In addition, loan interest rates are rising, so small business owners are increasingly worried about loan repayment. The government has prepared a ‘low-interest refinancing loan policy’ to ease the debt burden of small business owners. Shall we take a look together?
What is a refinancing loan?
A refinancing loan refers to replacing an original high-interest loan with a lower-interest loan. With a refinancing loan, you can reduce the interest you pay every month and change to a loan with better conditions, such as extending the maturity depending on the situation.
What is the 2024 small business refinancing loan?
For small business owners, the government is providing support by lowering the loan interest rate to 4.5% and allowing them to repay in installments over 10 years. Additionally, the early repayment fee that must be paid when the loan is repaid mid-term and the late payment penalty that must be paid when the loan is overdue are exempted.
*What is a small business?
As a small-scale business operator, you must meet both conditions below.
– Based on sales: KRW 12 billion to less than KRW 1 billion by industry
– Standard for full-time workers: manufacturing, construction, transportation, etc. have less than 10 workers, wholesale, retail, service industries, etc. have less than 5 workers.
Any small business owner with medium or low credit who holds one of the two loans below can apply. Here, small business owners with low or medium credit refer to businesses with an NCB personal credit rating of 839 or lower.
*However, the loan must be received before August 31, 2023, and the loan must be faithfully repaid for at least 3 months at the time of application.
1. High-interest loan of 7% or more
banknote
Toss Bank, Hana Bank, Shinhan Bank, Kookmin Bank, Woori Bank, SC First Bank, Citibank Korea, Gyeongnam Bank, Gwangju Bank, Daegu Bank, Busan Bank, Jeonbuk Bank, Jeju Bank, Nonghyup Bank, Suhyup Bank, Industrial Bank of Korea, Korea Development Bank, Export-Import Bank, K Bank, Kakao Bank
non-banking
Savings banks, credit finance companies, mutual finance (credit cooperatives, local agricultural cooperatives, local water cooperatives, forest cooperatives, Saemaeul Geumgo), insurance companies
2. Loans for which a ‘Maturity Extension Difficulty Confirmation’ has been issued as it is difficult to extend the maturity.
Issuer
Hana Bank, Shinhan Bank, Kookmin Bank, Woori Bank, SC First Bank, Kyongnam Bank, Gwangju Bank, Daegu Bank, Busan Bank, Jeonbuk Bank, Jeju Bank, Nonghyup Bank, Suhyup Bank, Industrial Bank of Korea, Korea Development Bank
Application date
After February 26, 2024
How to apply
1. High-interest loan of 7% or more
*Bank handling refinance loan
Hana Bank, Shinhan Bank, Kookmin Bank, Woori Bank, Gyeongnam Bank, Gwangju Bank, Daegu Bank, Busan Bank, Jeonbuk Bank, Jeju Bank, Nonghyup Bank, Industrial Bank of Korea
* Toss Bank provides useful information, but it is not a handling bank.
2. Loans for which a ‘Maturity Extension Difficulty Confirmation’ has been issued as it is difficult to extend the maturity.
If you are a small business owner who had no choice but to use high-interest loans in difficult circumstances, the government’s low-interest refinancing loan policy will be of great help. I hope this policy will help you repay your loan. More details can be found on the website of the Ministry of SMEs and Startups.
*This content was based on data from the Ministry of SMEs and Startups.
