Credit Guarantee
About Credit Guarantee
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About Credit Guarantee
The Busan Credit Guarantee Foundation will be a reliable partner for small and medium-sized enterprises (SMEs) and small business owners.
A credit guarantee institution provides public credit through a credit guarantee to ensure that SMEs with growth potential but insufficient collateral can raise needed funds through financial institutions.
A credit guarantee alone does not provide physical collateral such as real estate, but instead, provides a comprehensive evaluation of a company's future growth potential and credit rating. For businesses with an excellent credit rating, a credit guarantee institution provides a guarantee for a loan from a financial institution based on its intangible credit power. Through this, smooth financing is not only ensured but the establishment of a sound credit order is also promoted.
The Busan Credit Guarantee Foundation was established in 1997 under the leadership of Busan Metropolitan City and the central government to provide credit guarantee support to SMEs and small business owners in Busan.
Credit Guarantee Flow Chart
Details of Credit Guarantee Process
| Process | Face to face guarantee | Auto review (contactless) | Staff review (contactless) |
|
01Guarantee application and submission of documents |
Face to face guarantee  Foundation’s visit after online consultation appointment |
Automated review (contactless)  Via the Foundation website and financial institution app |
Staff review (contactless) Via the Foundation website and financial institution app |
|---|---|---|---|
|
02Guarantee review |
Face to face guarantee  Review by Foundation employee (on-site) |
Automated review (contactless)  Automated review |
Staff review (contactless)  Foundation staff review |
|
03Credit guarantee agreement and issuance of guarantee certificate |
Face to face guarantee Foundation visit |
Automated review (contactless)  Bank app |
Staff review (contactless) Bank app |
|
04Financial institution loan process |
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Application for credit guarantee
Guarantee consultation time
- Weekdays 09:00 ~ 16:00
Documents required for consultation
- Private companies : Business registration certificate, identification
- Corporations : Business registration certificate, identification, recent financial statements, list of shareholders, value-added tax standard certificate
After the guarantee consultation, we will prepare a list of documents and the document forms required for the guarantee review immediately at the consultation table.
For startup companies, proof of startup expenditure details (including financial data) must be provided such as rental deposit, interior design costs, and rights fees invested in the business in order for the guarantee review staff to review the fund limit. If the proof of startup capital is not available or only partial proof is available, the guarantee limit may be reduced, or you may be able to apply for a guarantee after reporting on the last 6 months of sales.
Branch Guide
TEL: 051-860-6600
※ Swipe the table.
| Branch | Address | FAX | Jurisdiction | Joint Jurisdiction |
|---|---|---|---|---|
| Headquarters/City Hall Branch | 3F, 15, Jinyeon-ro, Busanjin-gu, Busan | 051-816-4551 | Yeonje-gu | Entire area of Busan |
| Geumjeong Branch | 5F, 1817, Jungang-daero, Geumjeong-gu, Busan | 051-714-6255 | Geumjeong-gu, Dongrae-gu, Gijang-gun (Jeonggwan-eup, Cheolma-myeon) | - |
| Dongbusan Branch | 3F, 120, Haeundae Beach-ro, Haeundae-gu, Busan | 051-755-6030 | Haeundae-gu Gijang-gun (excluding Jeonggwan and Cheolma) | - |
| Nambusan Branch | 2F, 234, Suyeong-ro, Nam-gu, Busan, Busan (Bank Daeyeon-dong Branch) | 051-611-8944 | Nam-gu, Suyeong-gu | - |
| Bukbusan Branch | 3F, 223, Saeum-ro, Sasang-gu, Busan, (Shinhan Bank) | 051-316-6788 | Buk-gu, Sasang-gu | Gangdong-dong, Daejeo-dong |
| Jungbusan Branch | 11F, 87-1, Gudeok-ro, Jung-gu, Busan (Hana Bank Chungmu-dong Branch) | 051-242-6878 | Yeongdo-gu, Seo-gu, Jung-gu | - |
| Seobusan Branch | 3F, 428, Nakdong-daero, Saha-gu, Busan (Eutteum Building) | 051-831-1180 | Saha-gu, Gangseo-gu, | Gangdong-dong, Daejeo-dong |
| Busanjin Branch | 7F, 92, Beomil-ro, Dong-gu, Busan (Busan Bank Beomil-dong Branch) | 051-714-5569 | Busanjin-gu, Dong-gu | - |
- * The appropriate branch should be selected based on the location of the headquarters or main business.
- * Subrogation work is handled by Rehabilitation Support Team 2.
- * Non-visit extension work is handled by the Guarantee Operation Department at the headquarters.
