Starting from the 21st, the largest special loan of 130 billion won in history


The Ministry of Credit Guarantee’s special loan for small and medium-sized tourism businesses, such as travel and hotel businesses, will be implemented at 130 billion won, the largest ever.

The Ministry of Culture, Sports and Tourism has expanded the special loan from the Ministry of Credit Guarantee to 130 billion won for the rapid management recovery of small and medium-sized tourism companies that are suffering from the impact of the corona virus, and has significantly improved financial conditions, such as application limit and guarantee review, to be implemented from January 21st. said.

The Ministry of Credit Guarantee’s Special Loan is a system that provides necessary funds by providing credit guarantees from public institutions (the Korea Credit Guarantee Foundation) to small and medium-sized tourism companies such as travel and hotel businesses that have been excluded from financial benefits due to their weak collateral. This special loan from the Ministry of Credit Guarantee is 130 billion won, the largest since its introduction in 2019. The application limit was also raised from 150 million won to 200 million won, and the conditions for support were relaxed, such as omitting the guarantee review for small funds within 20 million won. In particular, benefits such as a 0.5%p cut in the loan interest rate and 0.2%p in the guarantee handling fee will be provided for 2022 only. After 2023, the loan interest rate is 1% and the guarantee handling fee is 0.5%. It is a 3-year repayment term with a 3-year grace period.

Tourism companies that want to receive a special loan can apply for a credit guarantee at 144 regional credit guarantee foundation branches nationwide from January 21st, receive a credit guarantee, and receive a loan from 1,138 Nonghyup Bank branches nationwide. Details and conditions of the special loan can be found on the website of the Ministry of Culture, Sports and Tourism.

By Kim Seon-joo, staff reporter [email protected]


www.traveltimes.co.kr

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