RetireJapan

Jansen wrote: ↑Fri Apr 03, 2020 3:14 pm Was this the program that you borrowed from?

新型コロナウイルス感染症特別貸付
https://www.jfc.go.jp/n/finance/search/covid_19_m.html

Mrs Woozy is handling all this (thank god!) but she confirmed this is the same program.

I don't read Japanese (beyond pre-intermediate graded readers) however the terms of the loan we received are as I described in my previous post. Also note JFC will decide how much we can borrow based on their preceived value of the company. They also arbitrarily decided we can only have 12 months (not 18) as interest-only payment period.

As discussed earlier in this thread no collateral is required but company director is required to sign as personal guarantor. Hope this helps. Let us know how you get on with everything. First step is to pay them a visit I guess and get the info from the horse's mouth.

This is very interesting. We are not at the stage where we would need a loan immediately, but may need one in the future. Thanks for the info!

RetireJapan wrote: ↑Sat Apr 04, 2020 7:33 amWe are not at the stage where we would need a loan immediately, but may need one in the future.

We got our approval today, which is about a month since we applied. This timeline might help you decide when you need to start the process Ben.

However yesterday I read on English NHK that they plan to introduce interest-free loans and free ice cream with chocolately bits (I'm paraphrasing) within the next 10 days for companies affected by the state of emergency. For this reason we are going to hold off taking our loan until we see if any better deal is on offer. If anyone sees any more detail hopefully they can share it here.

It's a strange one for us because we haven't had a fall in income yet, but if this goes on for more than a few weeks I can see one coming. Most of the things I have seen are either loans or require proof of loss of income.

Good luck to us all.

KyushuWoozy wrote: ↑Thu Apr 09, 2020 3:36 am
yesterday I read on English NHK that they plan to introduce interest-free loans and free ice cream with chocolately bits (I'm paraphrasing) within the next 10 days

10 days is more than up. Anyone read anything about additional support for small companies?

So far it looks like we can get:

1. 400,000 yen from Sendai for closing for the next two weeks.
2. up to 1,000,000 yen from the national government for being a sole proprietor with a fall in monthly income over 1m compared to the same month last year
3. interest free loan up to 30m yen (am going to look into this, don't have full details yet)

Well, with #1 and #2 seems you have some silver lining at least, unfortunately I can't get either. Be interested what you find out about #3. Thanks for sharing.

KyushuWoozy wrote: ↑Sat Apr 25, 2020 5:32 am Well, with #1 and #2 seems you have some silver lining at least, unfortunately I can't get either. Be interested what you find out about #3. Thanks for sharing.

If you have a company, #2 is 2 million yen I believe. Are you not eligible for that?

https://www.meti.go.jp/covid-19/pdf/kyufukin.pdf

I hope this gets passed quickly though it only seems to be for companies that have been asked to shut by the government.

https://asia.nikkei.com/Economy/Japan-t ... -companies

RetireJapan wrote: ↑Sat Apr 25, 2020 7:26 am
If you have a company, #2 is 2 million yen I believe. Are you not eligible for that?

Perhaps but seems details not released yet. Mrs Woozy is cynically doubtful.