IBK Industrial Bank Launches 2nd Round of Non-Face-to-Face Financial Support Loans for Small Business Owners

[Asia Economy Reporter Kim Min-young] IBK Industrial Bank announced on the 8th that it is providing the ‘2nd Financial Support Loan for Small Business Owners’ remotely to individual business owners struggling due to the novel coronavirus infection (COVID-19).

Small business owners can apply for loans, issue guarantees, and execute loans entirely through corporate internet and mobile banking without visiting a branch. The bank stated that the documents required for the loan are automatically submitted using certificate-based scraping technology, eliminating the hassle of customers having to obtain them directly.

Customers without existing IBK accounts can also apply for loans remotely. After opening a deposit and withdrawal account through the corporate mobile banking application ‘i-One Bank Corporate’ and registering for corporate internet and mobile banking, they can receive loan support following the same procedures as existing customers.

The 2nd Financial Support Loan for Small Business Owners is a policy finance product supported with a credit guarantee fund guarantee certificate for small business owners and individual business operators facing difficulties due to COVID-19.

An IBK representative said, “We plan to continue launching services that enhance convenience and financial accessibility for corporate customers beyond individual customers in line with the untact (non-face-to-face) financial trend.”