This is a quick note on The Novel Coronavirus Special Loan which is provided by JFC. (Updated on July 4, 2020)
The official name of the loan is 新型コロナウイルス感染症特別貸付 (Shingata Korona-Uirusu Kansensho Tokubetsu Kashituke).
- JFC, Japan Finance Corporation, is government-backed. This rescue loan is the most widely and favorably available among others at the moment.
- It takes one to two months until funding under the current application volume.
- JFC has two operating segments. “国民生活事業” (Kokumin Seikatsu Jigyo), also described as “個人営業” (Kojin Eigyo), is applicable to sole proprietors.
Amount
Up to 80 million yen (but conservatively expect <5M yen)
Condition
(1) The monthly/quarterly sales has dropped by 5% or more YOY as a general rule.
(2) In business for at least 3 months
Interest
Base up to 1.75%. Fully subsidized for the first 3 yrs. TBD from onward.
Term
Up to 20 years for capex, 15 years for working capital
Grace period
Up to 5 years
Application Steps
- Register your email address and submit the application online
- Mail ①～⑤ documents to one of the branches that covers your business address.
- Await a call from the branch (it might take a month)
They’ll ask some questions and set up an interview. In some cases, this call may replace an interview. - Take an interview
Application deadline
None
■Official sources
・JFC – Guidance for the application
