미소금융 창업대출Microfinance is a financial service that stands for microcredit. It is social finance that helps low-income people who cannot escape poverty to become self-sufficient by providing loans without collateral or guarantees.
As can be seen from the fact that the main support contents of microfinance are start-up funds, operating funds, and facility improvement funds, microfinance focuses on funds for starting a business or on funds for the operation or improvement of those who have already started a business rather than funds for livelihood.
Originally, unlike New Hope Spore Loan or Sunshine Loan, this service focused on eradicating poverty through self-reliance, but in reality, it is only recognized as one of the loans for the common people. However, business feasibility analysis, management consulting support, and debt adjustment linkage support are features of microfinance that make use of the original purpose of microcredit.
Currently, you only need to meet one of four criteria to qualify for a microfinance loan.
– Credit rating of level 6 or lower (levels 6 to 10), including those with no credit rating due to no credit transaction records.
– Basic livelihood recipients
– Next-lowest class (households with recognized income of 120% or less of the minimum cost of living) or lower
– Those who meet the requirements for applying for work incentives
There are cases where microcredit cannot be supported.
There are four types: start-up fund, operating fund, facility improvement fund, and emergency livelihood fund. Emergency livelihood loan cannot be received from the beginning, but only those who have taken out a loan for start-up, operation, or facility improvement funds and are repaying it faithfully. You can receive it in some cases.
The repayment method for all four is equal installments of principal and interest, and the basic loan interest rate is 4.5% per annum. If you repay your loan faithfully without delinquency, you may be eligible for an interest rate reduction.
People who plan to start a business can receive a loan for a deposit for business rental or to purchase a vehicle (less than 1 ton) for livelihood purposes.
The loan limit depends on the purpose of the funds.
If you are planning to start a business and are leasing a business premises, you can receive a loan of up to 70 million won up to the rental deposit limit. In the case of an unregistered business, the limit is up to 5 million won and the interest rate is 2% per year.
If you purchase a vehicle for making a living, the limit is up to 20 million won, and if an unregistered business person purchases a vehicle for making a living, the limit is up to 10 million won.
The loan period is up to 6 years (grace period within 1 year, repayment period within 5 years).
Among microcredit, working capital loans are loans provided to self-employed people who have registered a business in their name for more than six months and are short of funds to purchase products, semi-finished products, raw materials, etc.
The basic loan limit is 20 million won, but the limit is 10 million won for freelancers and 5 million won for unregistered businesses. For unregistered businesses, the interest rate is 2%, not 4.5%.
The loan period is up to 5 years and 6 months (grace period within 6 months, repayment period within 5 years).
When a self-employed person who has registered a business in his or her own name for more than six months needs funds to improve facilities at his/her business, the support available is a microfinance loan.
The loan limit is 20 million won and the loan period is up to 5 years and 6 months (grace period within 6 months, repayment period within 5 years).
You can apply for and receive a microfinance loan if you have been repaying it faithfully for more than one year after receiving a loan for start-up funds, operating funds, or facility improvement funds.
The loan limit is 5 million won (10 million won if you submit proof of your own disaster, emergency medical treatment for your family, and funeral) and the loan period is up to 5 years (grace period within 1 year, repayment period within 4 years).
Required documents vary depending on the type of microfinance loan, but the documents below appear to be generally required. However, there may have been differences as the Microcredit Information and Application Process has been managed by the Korea Inclusive Finance Agency since September 2016. Please just think of it as a feeling that you will need these documents.
In the case of a start-up loan, in addition to the basic documents above,
In the case of operating funds and facility improvement fund loans, in addition to the above basic documents,
In the case of an unregistered business loan, in addition to the basic documents above, an unregistered business confirmation (statement) is required.
In the past, you would receive loan counseling at a local branch of the Microcredit Foundation, and if you seemed eligible, you would receive start-up consulting, but since June 2016, loan counseling will be provided through the Korea Inclusive Finance Agency. It will be faster to receive consultation about microfinance by calling the Microfinance Integrated Call Center at 1397 rather than looking through the website.
Microfinance loans are basically loans for starting a business. Also, in keeping with the purpose of microcredit, prior education and startup consulting are required to receive a loan. Please keep in mind that it may take a little longer for the loan to be approved than for other loans.
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