Pyeongtaek City to Provide Low-Interest Loans from Food Promotion Fund

[Suwon Ilbo=Reporter Seo Dong-young] Pyeongtaek City announced on the 18th that it will provide facility improvement funds for food manufacturing and processing businesses and food service establishments, as well as operating funds for model restaurants and hygiene-grade designated businesses, which have faced operational difficulties due to the prolonged COVID-19 pandemic.

The loan limit for food manufacturing and processing businesses' production facility improvement funds is up to 500 million won (with 20% self-financing), facility improvement funds for food service establishments such as general and casual restaurants and bakeries are 100 million won, operating funds for model restaurants and hygiene-grade designated businesses are 30 million won, and bathroom facility improvement funds are up to 20 million won, all with an annual interest rate of 1%, with applications accepted year-round.

The loan funds will be implemented through Gyeonggi Province's Food Promotion Fund. Business owners seeking loans can consult with Nonghyup Bank in Pyeongtaek City regarding pre-loan availability, then complete and submit a loan application form to the Food Policy Division of Pyeongtaek City to receive support through Gyeonggi Province.

Facility improvement funds for hygiene businesses are used for modernization and equipment replacement projects in food manufacturing and processing facilities and improvement of aging facilities in food service establishments to enhance food hygiene standards.

The loan terms are a 2-year grace period followed by equal installments over 3 years, while operating funds for model restaurants and hygiene-grade designated businesses are a 1-year grace period followed by equal installments over 2 years.

Business owners wishing to apply should contact the City's Food Policy Division, Food Policy Team (031-8024-3750~3).