How to apply for Youth Entrepreneurship Support Fund
These days, there are so many prospective bosses who are thinking about starting a business, but they don’t have enough money to start a business, and it’s difficult to raise funds, right?
In order to alleviate these concerns, the government has established a youth entrepreneurship subsidy system to provide funds for young people to envision new businesses.
Youth Entrepreneurship Support Fund
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Receive application for Youth Entrepreneurship Support Fund
Youth Entrepreneurship Support Fund
Youth Entrepreneurship Support Amount
Youth Entrepreneurship Support Fund
Receive application for Youth Entrepreneurship Support Fund
If you want to apply for the youth entrepreneurship support fund, you can proceed with the Small and Medium Venture Business Promotion Corporation, and you can use it quickly by accessing the link below.
Youth Entrepreneurship Support Fund
2023_Policy Fund Application_Customer Manual_230103.pdf
2.69MB
[Application Procedure]
Go to the online application system > Consent to information provision > Pre-company diagnosis and checklist preparation > Pre-consultation > Online application submission > Company evaluation and decision You can receive up to KRW 100 million in youth entrepreneurship subsidies.
Youth Entrepreneurship Support Fund
It is aimed at young people under the age of 39 who have been in business for less than 3 years, and must prepare for small and medium-sized businesses or start-ups.
▶ Age: 39 years old or younger
▶ Less than 3 years from the date of commencement of business (based on application date and receipt date)
▶ SMEs or start-up preparations
▶ SME size: 5 or more people
Classification Evaluation Criteria
Business competency of prospective founders and prospective representatives
credit rating
Future development of entrepreneurship-related businesses
Entrepreneurs with less than 3 years of business experience
industry experience
sales
debt ratio
Youth Entrepreneurship Support Amount
It is one of the government policies that will be of great help in this high interest rate era as it supports up to 70% of the project cost (up to KRW 100 million) at a fixed interest rate of 2% per year.
▶ Loan amount: up to KRW 100 million (within KRW 200 million for manufacturing and regionally specialized industries)
▶ Loan interest rate: 2% annual fixed rate
▶ Use: Facility funds or operating funds
▶ Loan period: within 10 years of facility funding (delay period – 4 years for collateral, 3 years for credit)
Operating funds within 6 years (grace period – within 3 years)
※ The borrower is free to repay the principal on the desired date, and 1/4 of the principal is repaid in the 1st to 4th years after the loan,
Repayment of 1/4 of the principal in the 5th year, 1/2 of the principal in the 6th year