The Credit Guarantee Fund announced on August 28 that it has launched the 'Easy-One Guarantee' in collaboration with Jeonbuk Bank, allowing small and medium enterprises (SMEs) to process guarantee applications and loan executions entirely online.
Corporate customers of Jeonbuk Bank can complete the entire process—from guarantee application and document submission to electronic agreements and loan execution—through the bank's non-face-to-face platform without visiting a branch.
This product is a follow-up to the memorandum of understanding signed between the Credit Guarantee Fund and Jeonbuk Bank in November of last year to promote non-face-to-face and digital finance. The integration of the two institutions' non-face-to-face platforms has simplified the procedures for utilizing guarantee-backed loans.
Eligible businesses are SMEs that have been operating for at least one year. The Credit Guarantee Fund will assess qualifying companies to provide working capital and preferential guarantee fee rates.
A representative from the Credit Guarantee Fund stated, "This product enhances financial accessibility for local SMEs through digital finance collaboration with regional banks, and we will continue to expand customer-centric non-face-to-face financial services."
* This article has been translated by AI.
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