Gwanak-gu District Office has launched its second-half 2026 SME Development Fund loan program to help small and medium-sized enterprises and small business owners maintain stable operations amid ongoing economic uncertainty and financing pressures.
The program offers a total of 2 billion won ($1.45 million) in loans at a fixed annual interest rate of 1.5%, aimed at easing the financial burden on local businesses.
To be eligible, applicants must have been registered as a business in Gwanak-gu for at least six months as of the application date and must be able to provide real estate or credit-based collateral. Businesses currently repaying existing loans from the Gwanak-gu SME Development Fund or other public funds are excluded, as are those in the financial, real estate, lodging, entertainment and gambling sectors.
Loans are available for both operating and facility costs. Small and medium-sized enterprises may borrow up to 100 million won, while small business owners may borrow up to 50 million won. Repayment terms include a two-year grace period followed by three equal annual installments.
Applications will be accepted on a rolling basis starting Sept. 24 until funds are exhausted. Applicants do not need to visit the district office — they can consult with Woori Bank's Gwanak-gu District Office branch for loan counseling and collateral assessment, then submit a loan application form, a business plan and a copy of their business registration certificate. Applicants seeking credit-based collateral may be subject to an additional assessment through the Seoul Credit Guarantee Foundation's Gwanak Comprehensive Support Center.
Since its establishment in 1993, the Gwanak-gu SME Development Fund has provided a cumulative total of 60.7 billion won in loans to 967 businesses, supporting the financial stability of local enterprises and contributing to the vitality of the district economy.
"I hope this loan program provides real, practical help to small and medium-sized enterprises and small business owners who are struggling to secure financing," district mayor Park Jun-hee said. "We will consistently pursue support policies that strengthen the local economy."
For more information, visit the Gwanak-gu District Office website under News and Announcements, or contact the Local Commercial District Revitalization Division.
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