Credit Guarantee Fund: Who Qualifies and What You Get
Learn how the Credit Guarantee Fund helps small business owners secure bank loans through government-backed guarantees.
The Credit Guarantee Fund provides a way for small business owners to secure bank loans by providing a government-backed guarantee.
Who it's for
This scheme is designed for small business owners who need to take out loans to support their operations.
What you get
You receive a guarantee from the fund that acts as security for your bank loan. This helps make it easier for you to secure financing from your bank.
What it costs you
While the guarantee itself is a service, you will typically need to pay a guarantee fee. This fee usually ranges from a small percentage to slightly over one percent of the amount per year.
The catch to know
To be successful, you must have a solid business plan and a reliable credit history.
How to apply
- Prepare a detailed business plan for your company.
- Gather your financial records to demonstrate your credit history.
- Review the specific requirements on the official website.
- Visit the official portal to begin your application: https://www.kodit.co.kr