Gangnam-gu announces 16.6 billion won loan support for SMEs

Gangnam-gu is launching a 16.6 billion won loan support program for small and medium-sized enterprises (SMEs) and small business owners starting September 1. This initiative brings the total loan support for the district this year to 40 billion won, the largest among autonomous districts in Seoul.

Eligible applicants must have been registered and operating in Gangnam-gu for at least one year. The funds can be used for business operations, facility expansion, or technological development. Corporations can apply for up to 300 million won, while individual business owners can apply for up to 100 million won. All loans carry a fixed annual interest rate of 1.5%, with a repayment structure consisting of a one-year grace period followed by four years of equal principal installments.

To improve accessibility, the district has expanded its consultation and application windows from 10 locations to 35 partner branches across Shinhan, Woori, and Hana Bank. However, certain entities are excluded from this program, including businesses with no revenue in 2024, those with delinquent national or local taxes, closed or suspended businesses, and restricted industries such as lodging, gambling, or entertainment.