(Seoul = Yonhap Infomax) Reporter Jeong Won = Regarding the rush of applications for small livelihood loans, Financial Services Commission Chairman Kim Joo-hyun said, “If necessary, we will discuss with related organizations about additional financial resources.”
On the morning of the 27th, the first day of the launch of micro-living loans, Chairman Kim visited the Yangcheon Small Finance Integration Support Center and said, “We are mobilizing all the capabilities of the Small Finance Promotion Agency, but as many people are waiting for loans, we will review additional plans to ensure smooth consultation. “He said so.
Chairman Kim said, “The micro-living loan is a product that supports the underprivileged who cannot use institutional finance and policy microfinance products. It means a lot,” he said.
However, he also said that no matter how good the system is, it is meaningless if it does not work properly in the field.
He said, “It is most important for applicants for small living expenses loans to have proper complex counseling, such as debt restructuring, welfare system, and job linking, as well as loans.” We will arrange it,” he added.
The small living expenses loan is a program that provides a maximum of 1 million won to the vulnerable, who are easily exposed to illegal private finance due to difficulties in using the loan business.
The loan limit is 1 million won, and additional loans are possible if the initial loan is 500,000 won and the interest is repaid faithfully for more than 6 months.
The interest rate is 15.9% per year, but it drops to 9.4% per year when financial education is completed and repayment is made in good faith.
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