Social Solidarity Bank Expands Eligibility for "11st Small Business Mutual Growth Loan"
The non-profit organization Together for a Better World (Social Solidarity Bank) announced on July 21 that it will expand the eligibility for the "11st Hope Shopping Small Business Mutual Growth Loan" program, conducted in cooperation with 11st, to include not only small business owners selling on 11st but also those operating on other online platforms.
This program targets small business owners with annual income of 60 million KRW or less who sell through online platforms. It provides an interest-free emergency loan of 3 million KRW to small business owners struggling due to the recent economic downturn. The loan has a repayment period of one year, and borrowers can repay the principal in equal installments over 12 months.
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Further details can be found in the announcement on the official website of the Social Solidarity Bank. Small business owners wishing to apply can download the application form from the small business support section on the official website and submit it online. However, the program may close early if the designated fund is exhausted.
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