IBK Bank is partnering with the Korea Credit Guarantee Fund to provide 300 billion won in financial support for early-stage innovative startups facing funding challenges.
On September 21, IBK Bank announced the launch of the 'IBK Step-Up Loan' as part of a joint support agreement for the 'Startup Build-Up Program to Establish a Growth Ladder for Early-Stage Innovative Startups.'
The IBK Step-Up Loan is designed to provide phased support to startups with confirmed growth potential, from initial funding to follow-up assistance. Eligible companies are those that have received a guarantee certificate under the agreement.
IBK Bank will offer a maximum interest rate reduction of 1.2 percentage points for initial support recipients and up to 1.5 percentage points for follow-up support recipients. This initiative aims to gradually assist early-stage startups that struggle with funding due to their short operating history.
The signing ceremony was attended by Kwon Dae-young, Vice Chairman of the Financial Services Commission; Yoo Il-kwang, Executive Director of IBK Bank; and Kim Seung-kwan, Executive Director of the Korea Credit Guarantee Fund. Yoo expressed hope that this support would serve as a starting point for new possibilities for early-stage innovative startups, stating, "We will actively support startups in overcoming the funding crisis in the guarantee blind spot."
* This article has been translated by AI.
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