The Ministry of SMEs and Startups said on the 25th that starting Mar. 3 it will switch emergency management stabilization funds for small merchants located in Homeplus Co. stores from the existing proxy-lending method to direct lending, and introduce a simplified review to provide funds quickly.
This measure reflects suggestions raised at a recent meeting with small merchants located in Homeplus Co. stores. As the loan proceeds based only on document screening by the Small Enterprise and Market Service without going through a guarantee institution or bank screening, faster support is possible.
In addition, even if a Homeplus Co. store is seized due to local government tax arrears, small merchants located there can receive emergency management stabilization funds regardless.
In principle, direct lending targets micro small merchants with annual sales of less than 104 million won or small merchants with less than seven years in business. However, the Ministry of SMEs and Startups (MSS) included small merchants located in Homeplus Co. stores as eligible for direct lending to provide stronger support. Accordingly, the likelihood of loan approval is expected to increase compared with the existing proxy-lending method.
Lee Byeong-gweon, second vice minister of the Ministry of SMEs and Startups (MSS), said, "The Ministry of SMEs and Startups (MSS) will listen closely to on-site opinions so that small merchants located in Homeplus Co. stores can overcome the crisis and will continue to reflect them in policy."
Small merchants located in Homeplus Co. stores who wish to receive direct lending can apply through the Small Business Policy Fund website starting at 10 a.m. on Mar. 3. For detailed inquiries, contact the SEMAS regional headquarters or centers, or the Small Business Integrated Call Center.