Incheon Metropolitan City will provide 50.5 billion won ($37.7 million) in business stabilization loans to small business owners.
The city will begin accepting applications Thursday for the third round of its 2026 "Hope Incheon Small Business Management Stabilization Fund."
Loans are capped at 50 million won per business. The city will subsidize interest at an annual rate of 2.0 percent for the first year and 1.5 percent for the following two years.
The guarantee fee rate will be set at 0.8 percent per year — lower than the standard guarantee rate — allowing businesses to access funds at near-zero effective interest rates.
However, businesses are ineligible if they received a credit guarantee from a regional credit guarantee foundation within the past three months, hold outstanding guaranteed loan balances of 200 million won or more, operate in restricted sectors such as gambling, entertainment, adult services or tobacco, or have outstanding loan delinquencies or tax arrears.
Earlier this year, the city disbursed 100 billion won in the first round in January and 114.5 billion won in the second round in March.
gilbert@heraldcorp.com
