KIBO Technology Guarantee: Who Qualifies and What You Get

The KIBO Technology Guarantee is a program designed to provide credit guarantees that help businesses secure necessary loans from banks.

👤Who it's for

This scheme is specifically intended for technology-based small and medium-sized enterprises (SMEs). It is built for companies whose core value and operations are driven by technological innovation, allowing them to leverage that technology to access traditional banking support.

🎁What you get

The primary benefit of this scheme is the provision of credit guarantees. These guarantees serve as a form of security for lenders, making it easier for your business to obtain bank loans. This can provide the necessary capital to support your company's growth and ongoing operations.

💰What it costs you

While this is not a direct cash grant, it does involve a cost in the form of a guarantee fee. This fee is typically calculated as a small percentage of the total amount being guaranteed, often ranging between 0.5% and 2% of the amount. You should check the official portal for the most current rates and specific fee structures applicable to your business.

⚠️The catch to know

The most important thing to prepare for is the evaluation process. Because the guarantee is tied to your company's technical capabilities, you must undergo a rigorous technical evaluation of your business model. The provider will examine the strength and viability of your technology to ensure it meets their specific standards before a guarantee is issued.

📝How to apply

1. Gather all relevant documentation regarding your company's technology and business model.
2. Prepare to undergo a formal technical evaluation to prove the validity of your innovations.
3. Submit your application through the appropriate channels provided by the issuing corporation.
4. Check the official portal for specific submission requirements: https://www.kibo.or.kr