Kibo Implements 'Clean Plus Guarantee' with Shinhan Bank to Enhance Transparency in Fund Usage

Direct Payment to Loan Usage After Pre-Assessment of Fund Usage Appropriateness Through Platform

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Jeong Yun-mo, hereinafter Kibo) announced that it will expand the newly introduced 'Clean Plus Guarantee' to Shinhan Bank starting from the 7th to enhance the transparency of guarantee-backed loans.

The Clean Plus Guarantee is a guarantee product that pre-checks the appropriateness of operating fund usage through a platform and directly pays the loan amount to the usage destination, targeting payments for goods and services, labor costs, and rent.

When a company using the guarantee inputs loan request information into the Clean Plus Guarantee platform, an intermediary verifies the consistency between the fund usage and supporting documents, then after Kibo's abnormal transaction monitoring, the bank executes the loan. Companies using the guarantee can receive preferential benefits such as ▲an increase in the guarantee ratio (from 85% to 95%) ▲a reduction in the guarantee fee rate (by 0.5 percentage points).

Kibo introduced the Clean Plus Guarantee in July and signed business agreements with Industrial Bank of Korea and Shinhan Bank to establish a support system for the smooth operation of the guarantee product. Subsequently, through Industrial Bank of Korea, it supported 8.1 billion KRW to 81 companies by the end of last month.

Director Kim Young-chun of Kibo stated, "Through the Clean Plus Guarantee, we expect to enhance customer convenience in using operating funds and actively respond to the continuous policy demands for transparent management of guarantee-backed loans," adding, "We will strive to improve customer satisfaction by advancing the fund execution platform in line with the 4th Industrial Revolution."

This content was produced with the assistance of AI translation services.