How to apply for eligibility for youth entrepreneurship support fund
Is there any country with as many smart and competent young people as our country? I would like to post about a system where many young people who are talented but struggling with initial funding problems can realize their dreams with a little help.
Young people under the age of 39 are provided with youth entrepreneurship subsidies of up to KRW 100 million at a fixed interest rate of 2% per year. This is good news for those who have had a hard time getting high-interest loans during rising interest rates. I hope that prospective young entrepreneurs can apply for the youth start-up support fund and be of even a small help in realizing their dreams.
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Youth start-up support system
Youth start-up support amount and period
Conditions for Youth Entrepreneurship Support Fund
How to apply for Youth Entrepreneurship Support Fund
Youth start-up support system
The Youth Entrepreneurship Support Fund is a youth policy in which the government supports financial services for young people under the age of 39 and conducts training to commercialize start-up items. Small and Medium Venture Business Promotion Corporation supports start-ups and start-up capital.
Youth Entrepreneurship Support Fund
Youth start-up support amount and period
Loan amount: up to KRW 100 million
Loan interest rate: 2% annual fixed rate
Use of funds: Facility funds, operating funds
Loan period (3 years or more guaranteed)
1. Facility funding: within 10 years
2. Operating funds: Within 6 years
3. Repayment method: The borrower can freely repay the principal at any time he/she wants (however, interest is paid on a monthly basis)
4. Periodic repayment: 25% repayment of principal in 1st to 4th year, 25% repayment in 5th year, 50% repayment in 6th year
Conditions for Youth Entrepreneurship Support Fund
Age: 39 years old or younger
Less than 3 years from the date of commencement of business
Youth under the age of 39 preparing to start a small business or start-up
Company size: 5 or more employees
How to apply for Youth Entrepreneurship Support Fund
Online Call Scheduling – Self Diagnosis
Loan counseling – face-to-face or non-face-to-face
Evaluate policy priorities – determine supportability
online loan application
Corporate screening – face-to-face or non-face-to-face
Loan review – Review of support availability and amount
Loan Execution – Direct or Agency Loan
Follow-up management – inspection of use of funds, business plan mentoring
So far, I have briefly posted about the Youth Entrepreneurship Support Fund. This system is available until the designated budget is exhausted.
We encourage you to check and apply for the procedure as soon as possible so that you can get approved and move on to a wonderful future. ^^