From Guarantee Application to Loan Execution
All in One Step via Non-Face-to-Face Platform
The Korea Technology Finance Corporation announced on the 30th that it has launched the "One-Stop Plus Guarantee," a non-face-to-face exclusive guarantee product, in collaboration with IBK Industrial Bank of Korea.
The One-Stop Plus Guarantee is a digital financial platform-exclusive agreement guarantee product designed to allow customers to handle the entire process-from guarantee application and document submission to guarantee agreement and loan execution-in one seamless step through non-face-to-face channels such as the bank's mobile and internet banking services.
The Korea Technology Finance Corporation will provide agreement guarantees totaling 100 billion won, funded by a special contribution of 5 billion won from IBK. Each company can receive up to 100 million won in operating funds, with benefits including an increased guarantee ratio (from 85% to 100% for three years) and a fixed guarantee fee (0.7% for three years). IBK will also offer preferential loan interest rates.
The eligible recipients are new business clients who meet the Korea Technology Finance Corporation’s technology guarantee requirements and apply for a guarantee through IBK’s non-face-to-face channels. With the launch of this product, the two institutions plan to enhance digital-based financial accessibility and work efficiency for small and medium-sized enterprises, while expanding non-face-to-face financial support services.
Kim Joungho, Executive Director of the Korea Technology Finance Corporation, stated, "The launch of this guarantee product is significant in that it creates an environment where small and venture businesses can access technology guarantees in a one-stop manner, without the constraints of time or location, thereby improving financial accessibility. Going forward, the Korea Technology Finance Corporation will continue to expand collaboration with financial institutions to lead digital financial innovation and actively support the stable growth of small and venture businesses."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
