Incheon City will launch a 22.5 billion won "Vulnerable Class Hope Dream and Commercial District Revitalization Special Guarantee Support Program" starting Nov. 26.
The "Vulnerable Class Hope Dream" program targets people with disabilities, basic livelihood recipients, and low-credit borrowers, providing up to 20 million won per business at a minimum guarantee fee rate of 0.5 percent annually. The "Commercial District Revitalization" program offers up to 30 million won to traditional markets, alley-type shopping districts, daily-life service businesses, and small business owners affected by Homeplus closures.
Both programs offer a five-year loan term, with a one-year grace period followed by four years of installment repayment. The loans are available at seven banks, including Shinhan and NH Nonghyup, and applications can be submitted through the Incheon Credit Guarantee Foundation's "Bojeung Dream" app starting at 9 a.m. on Nov. 26.
