Policy Fund Loan Application Documents

Procedure

Procedure

1. 01

   Confirm the agency and fund type: SMEs under the Framework Act on Small and Medium Enterprises look at KOSME policy funds, and micro enterprises with fewer than 5 regular employees (fewer than 10 in mining, manufacturing, construction and transportation) in principle look at SEMAS policy funds. Each fund, such as innovative startup commercialization, new market entry support or emergency management stabilization, differs in business-age requirements and in the split between facility and working capital, so the right fund is chosen from that year's notice.

2. 02

   Advance check of loan restriction grounds: Before applying, check whether the business is suspended or closed, national or local tax arrears, registered credit information such as overdue payments or default, whether the industry is excluded, and whether the debt ratio exceeds the industry threshold. A past history of using working capital for other purposes or applying by false or fraudulent means restricts loans for the period set in the notice, so the history is reviewed as well.

3. 03

   Online application and policy priority evaluation: Log in to the agency website with the company's own account, select the competent regional headquarters or branch and the available fund, consent to information sharing and enter company information. A policy priority evaluation that considers each office's budget and application volume decides whether the company is given a screening opportunity, and application schedules are announced separately by each branch.

4. 04

   Preparing the business plan and application documents: Once given a screening opportunity, submit the loan application, business plan and supporting documents by the set deadline. The business description, product and technology competitiveness, market and sales plan, hiring plan, fund use plan and repayment plan are written to match the financial statements, and for facility funds the amounts in quotations and contracts are matched to the required funds in the plan.

5. 05

   Responding to the company evaluation: The agency evaluates technology, business viability, future growth potential, management capability and the soundness of the business plan through an on-site visit or remotely. Materials are bundled by item so that the basis of sales, major customers and equipment investment can be explained with evidence, and any request for supplementation is answered with additional materials within the deadline.

6. 06

   Loan execution and follow-up after the decision: Once the loan is approved, it is executed either as a direct loan from the agency or as an agency loan through a bank, and an agency loan goes through the bank's separate collateral and guarantee review. After the loan, the use of funds is inspected, so working capital and facility funds must be used for the stated purpose and the evidence of use kept.

Filing route

Filing route

Deadlines & processing notes

Deadlines & processing notes

Basic documents

Basic documents

If an application goes through a third party who promises loan approval or recommends documents that differ from the facts, it is treated under the loan plan notice as a false or fraudulent application and policy fund applications are restricted for a set period, so the business plan and evidence are prepared according to the actual business.