Credit Guarantee
Prohibited/Restricted Companies
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Guarantee prohibited companies
- 1. Companies that have not been able to collect claims after the Busan Credit Guarantee Foundation or other regional credit guarantee foundations, the Korea Federation of Credit Guarantee Foundations, Korea Credit Guarantee Fund, or Korea Technology Finance Corporation have fulfilled their guarantee obligations.
- 2. A company run by oligopolistic shareholders and unlimited liability partners among the directors or business associates of the above company, or a corporate company of which they are representatives (including actual managers)
Guarantee restricted companies
- 1. Companies that are temporarily closed for business
- 2. Companies that frequently default on loans from financial institutions (Companies that have had loans overdue for more than 1 month within the last 3 months, or have had more than 4 loans overdue for over 10 days)
- 3. Companies that are in arrears as of the reference date of financial transaction confirmation from financial institutions
- 4. Companies whose credit management information is registered in accordance with the “Credit Information Management Rules” of the Korea Credit Information Service
- 5. Companies for which the Foundation, other regional credit guarantee foundations, Credit Guarantee Funds, and Technology Guarantee Funds are unable to collect claims after fulfilling their guarantee obligations, as well as companies that are joint guarantors of such companies and corporations that act as joint guarantor representatives.
- 6. Companies that have submitted data related to insolvency and whose guarantee limitation period has not elapsed
- 7. Companies with credit guarantee breaches regulated by the Foundation, Korea Credit Guarantee Fund, and Korea Technology Finance Corporation (including breaching companies on reserve)
- 8. Companies that have applied for guarantee as a “business subject to reinsurance restrictions” as defined in the basic reinsurance contract signed with the reinsurance institution
- 9. A company that is a joint guarantor of a company with the above credit guarantee breach, or a corporation whose representative is a joint guarantor
- 10. Companies that have applied for rehabilitation, bankruptcy, commencement of composition, application for commencement of company reorganization procedures, and registration in the list of defaulters or are in liquidation
- 11. Companies that use both the Credit Guarantee Fund and the Technology Guarantee Fund
- 12. Other companies certified as having extremely poor credit status or requiring limited guarantees
Other restricted targets
Duplicate guarantee restriction
- This applies to a company that has received guarantee support within the past 3 months (including new report, notated record, and local new record guarantee), or any company using 4 or more guarantees from the Foundation (excluding Shinbo, Kyobo, and other Foundation guarantees)
※ Certain guarantee products such as Hope Plus, On-Tact, and Restart Special Guarantee are excluded from duplication restrictions. Please contact the branch for additional information.
