Due to the worsening situation in the Middle East, a loan program for small and medium-sized enterprises in the district was announced to begin in June. According to the district, this is the first time a local government has established a loan program in response to the Middle East situation within Tokyo.
For businesses struggling with cash flow due to soaring raw material costs, loans of up to 20 million yen will be provided under certain conditions. The district will independently subsidize interest and fees so that businesses can receive loans through financial institutions interest-free and without collateral. Applications will be accepted until September 30, and an extension may be considered depending on the situation.
Additionally, the district set up a special consultation desk to provide management advice regarding the Middle East situation. A district official stated at a press conference that day, “Hearing concerns from businesses unable to accept orders due to material shortages and unable to pay labor costs, I thought we should prepare loans taking into account the Middle East situation.”
