Question 1

Can I apply if my credit grade is low?

Accepted Answer

Each fund has a different maximum allowable credit grade. General Stabilization Fund is grade 6, Growth Base is grade 5, Restart Special is grade 7, Emergency Support is grade 8, and Regional Credit Guarantee is grade 7. So even with a grade 7 or 8, you may be eligible for certain funds. Confirm with SEMAS (☎ 1357).

Question 2

Can I apply with a short business history?

Accepted Answer

The Restart Special Fund accepts applications from day 0 (immediately after re-registration). For others: Regional Guarantee and Emergency Support require 3+ months; General Stabilization requires 6+ months; Growth Base requires 12+ months.

Question 3

Who can apply for the Restart Special Fund?

Accepted Answer

Only small business owners who closed a previous business and restarted a new one. You must submit a certificate of business closure (폐업사실증명원) from the tax office. Simple industry changes or corporate conversion do not qualify.

Question 4

Can I apply to multiple funds at the same time?

Accepted Answer

You generally cannot receive duplicate loans from the same SEMAS fund type. However, SEMAS direct loans and regional credit guarantee loans may be stacked in some cases. Confirm overlap restrictions with SEMAS (☎ 1357).

Question 5

Can I apply even if my revenue is very low?

Accepted Answer

Yes, as long as your business registration is active. However, you must submit tax filing records, so accurate tax reporting is important. Very low or zero revenue may be viewed unfavorably in the review process.

Question 6

Are the interest rates fixed or variable?

Accepted Answer

SEMAS policy fund rates are generally variable and linked to the base rate. Rates shown in this tool are estimated for early 2026 and may differ from actual applied rates. Confirm with SEMAS (☎ 1357).

Question 7

Can I apply online?

Accepted Answer

Yes. Pre-screening applications can be submitted online at sbiz.or.kr without a credit check. Document submission and in-person review may require a visit to your nearest SEMAS regional office.

Question 8

What is the difference between SEMAS and regional credit guarantee foundations?

Accepted Answer

SEMAS provides direct low-interest loans to small business owners. Regional credit guarantee foundations (지역신보) provide guarantees so that small business owners can access bank loans. If you lack collateral, the regional guarantee route is often faster and more accessible.

Frequently Asked Questions