Small Business Management Environment Improvement Project 'Our Neighborhood Hidden Heroes Project'

Support for low-income youth and single-parent women heads of households… Applications open until May 31st

Together We Create (Social Solidarity Bank) announced that it will be accepting applications for small businesses to participate in the 'Our Neighborhood Hidden Heroes Project', a support program aimed at improving the business environment of small businesses, until May 31st.

https://seenthis.kr/newspage/2505

The 'Our Neighborhood Hidden Heroes Project' is a program that supports the improvement of business environments for low-income youth and women heads of households who are small business owners. The Social Solidarity Bank has been running this program in partnership with JP Morgan since 2017.

Despite the closure of businesses due to high prices, high interest rates, and high exchange rates, participating businesses have achieved positive results, such as an increase in average sales and new employment.

Small businesses selected for the 2024 program will receive systematic support in stages, including business improvement consulting, management capacity building training, and business environment improvement funding.

The eligibility criteria include △low-income youth (aged 20 to 39) △single-parent women heads of households. The evaluation process consists of document review, on-site evaluation, and interviews.

The selected small businesses will receive 5 business improvement consultations, more than 12 hours of management capacity building training, and up to 7 million won in business environment improvement funding per business.

Small businesses wishing to apply can download the application form from the Social Solidarity Bank website (www.bss.or.kr) and submit it online by May 31st.

Kim Ki-jun, CEO of JP Morgan Korea, said, "We hope that the support program will help stabilize the businesses of women heads of households and low-income youth and contribute to the growth of the local communities where each business is located."

Kim Yong-deok, chairman of the Social Solidarity Bank, said, "We will continue to provide support so that young people and women heads of households who are experiencing difficulties can improve their business environment and continue their economic activities through systematic and phased support."

The Social Solidarity Bank is a leading domestic social finance institution in Korea that supports the real-life independence of financially marginalized groups and the revitalization of the social economy through alternative finance.

JP Morgan is supporting various social contribution activities in collaboration with non-profit organizations in Korea to cultivate small businesses and create new opportunities for youth, women, and underserved communities.

Introduction to Together We Create (Social Solidarity Bank)

Together We Create (Social Solidarity Bank) is a self-reliance support institution that creates various social values by improving the vulnerable structure of society through alternative finance and provides opportunities to improve the quality of life for vulnerable groups. In particular, we are conducting projects such as financial support and growth support to prevent the lives of people who are struggling due to low income, low credit, etc., from falling apart.

Website: https://www.bss.or.kr

Contact
Social Solidarity Bank
Fundraising and Public Relations Department
Shin Yeon-gyeong, Section Chief
02-2280-3314