자영업자 대환대출We will reduce the burden of high-interest loans (7% or more) for the self-employed and small business owners. Apply for the ‘Self-Employed and Small Business Low-Interest Refinancing Program’, which refinances high-interest business loans at low interest rates!
∨ Borrowers whose damage from COVID-19 is objectively recognized
∨ Borrowers who are carrying out business activities normally and are able to repay low-interest refinancing funds
∨ Individual business or corporate small business
◆ Support target
If you meet all three conditions, you can apply!
① Borrowers whose damage from COVID-19 is objectively acknowledged
– Borrower who receives disaster relief funds* or loss compensation** such as loss compensation
– Borrowers who used maturity extension and repayment deferral measures in all financial institutions
* One-time payment (2nd New Hope Payment, 3rd Support Payment, 4th Support Fund Plus, 5th Hope Recovery Fund, 6th-7th Quarantine Support Fund, 8th Loss Compensation)
** Permanent system to pay based on the actual amount of damage caused by quarantine measures (Article 12-2 of the Small Business Act)
※ Industries such as real estate, gambling, and speculative businesses that are unlikely to be affected by COVID-19 are excluded from support (same as other small business programs).
② Borrowers who are carrying out business activities normally at the time of application and can repay low-interest refinancing funds
* In cases where it is difficult to conduct normal business activities, such as business suspension or closure, tax delinquency, or financial institution delinquency, the business is not eligible for support from this refinancing program.
③ Individual business or corporate small business
– A person registered as a sole proprietor in accordance with the Value-Added Tax Act
– Corporations registered as corporate businesses under the Value-Added Tax Act with average sales of less than KRW 10 (accommodation, food, education, etc.) to KRW 12 billion (manufacturing, etc.)
* Small business owners, both individuals and corporations, are eligible for support.
◆ Debt eligible for refinancing
If you meet all three conditions, you can apply!
① Bank/non-bank loans with an interest rate of 7% or higher
* If the interest rate applied at the “time of application for refinancing” is 7% or more, regardless of the history of interest rate changes before applying for refinancing
② Business loan
– Corporate loans such as facilities and working capital provided to individual business owners or corporate businesses holding a business registration certificate
* Loans that are difficult to consider as business loans or for which repayment processing is not appropriate are excluded from repayment.
(Example) Real estate loan for personal residence or rental purpose, purchase of car for personal use, stock loan, minus bank account
– Even if it is a personal loan, loans (installments) related to commercial vehicles such as trucks and construction machinery are included in the refinance target because the business purpose is clear.
③ Loans handled until May 31, 2022
* This includes cases where loans received before the end of May 2022 were renewed after June 2022.
◆ Refund program contents
KRW 8.5 trillion, converted to guaranteed loan of up to 6.5%
· (Repayment structure) 5-year maturity / 2-year grace period, 3-year installment repayment
· (Interest rate) Determined according to the borrower’s credit rating within the upper limit for each period
– (1st to 2nd year) Maximum bank 5.5% → Fixed interest rate for 2 years
– (3rd to 5th years) 1-year bank bond (AAA) + within 2.0%p
· (Limit) 50 million won for individuals, 100 million won for corporations
· (Guarantee rate) fixed at 1% per year
· (Guarantee rate) 90%
◆ Refinancing financial institutions
Check which institution holds your existing loan and which institution will receive the repayment.
· Existing loan holding institution
– Banks, savings banks, credit-specialized financial companies (card companies, capital companies), mutual finance (credit cooperatives, agricultural cooperatives, fisheries cooperatives, forest cooperatives, Saemaeul Geumgo), insurance companies
· Exchange handling agency
– A total of 15 commercial and local banks and internet banks
* Kookmin, Corporate, Shinhan, Woori, Hana, Nonghyup, Suhyup, SC, Gyeongnam, Gwangju, Daegu, Busan, Jeonbuk, Jeju, Toss Bank
◆ How to apply
· Check application eligibility and loan status
– Credit Guarantee Fund online platform
· Apply for refinance
– Financial institution app or website
– In case of corporations, small businesses, two or more representatives, and other cases desired by customers*, face-to-face application is accepted through bank branches, etc.
* (Examples) Elderly customers, first-time customers at the financial institution applying, lack of non-face-to-face access environment, etc.
1. Beware of loan solicitation calls and texts impersonating the government, public institutions, or financial institutions.
2. You must unconditionally refuse requests to transfer funds or provide personal information under the pretense of arranging a loan, such as a refinancing, and do not call or text the fraudster to request consultation. You must immediately hang up the phone and delete the text message.
3. Never open URL addresses from unknown sources, and if you have sent damages, call the financial company, call center, National Police Agency (☎112), or Financial Supervisory Service (☎1332) to quickly check your account to prevent fraudsters from withdrawing the funds. Please take action to suspend payment.
☞ See details
Contact information: Policy Portal Department, Ministry of Culture, Sports and Tourism
044-203-3048
044-203-3052
044-203-3056
044-203-3055
044-203-3050
044-203-3055
044-203-3048
044-203-3054
044-203-3054
044-203-3046
044-203-3046
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