To residents of Yokohama:
This is HAYASHI Fumiko.
To mitigate the impact of the new coronavirus disease on daily life and the economy, the City of Yokohama has compiled the largest ever supplementary budget proposal of 574.3 billion yen.
For the small and medium-sized companies that make up 99.5% of Yokohama' s local businesses, the city has established a new financing menu to help them stabilize.
Specifically, the new "City of Yokohama New Coronavirus Disease Relief Fund" (provisional translation) will provide unsecured loans with no interest for three years, a deferred period of 60 months, and a maximum of 30 million yen, and a line of credit significantly expanded from 140 billion to 500 billion yen.
If the limit exceeds 30 million yen, the city subsidizes the full warranty fee and a selection of low-interest rate loans is made available. Feel free to make use of this system to finance your business.
In addition, as extra support for small businesses that receive loans of less than 5 million yen, the city will provide 100,000 yen. This amount will also be offered to recently established start-ups.
I hope these new financing opportunities will help you to make it through this challenging time.
Consultations at financial institutions are available starting May 1. Once the budget is approved, we will move towards implementation as soon as possible.
To all business supporting the daily lives of our residents, I would like to express my sincere gratitude. The City of Yokohama will continue to work to contain the spread of the new coronavirus as soon as possible, reclaim a healthy economy, and do everything in our power to help local businesses overcome this crisis.