일본의 사업성융자추진법상 기업가치담보권 제도에 관한 고찰과 시사점

On June 7, 2024, Japan enacted the “Act on the Promotion of Cash Flow-Based Lending,” establishing the Enterprise Value Charge (EVC). This law enables companies to secure loans using their technological capabilities or cash flow as collateral, allowing startups without real estate or production facilities to easily raise funds. It is expected to be particularly helpful for companies with innovative technologies or ideas to secure initial funding. The Act establishes systems, including the Enterprise Value Charge (EVC), which uses the entire business—including intangible assets—as collateral. This facilitates financing for startups lacking tangible assets or for business owners hesitant to pursue business succession or bold expansion due to the execution of personal guarantees. To protect businesses and promote appropriate use, a new trust business license is established. Financial institutions like banks using this system are required to obtain the license, with oversight by financial authorities. The law also includes provisions allowing private organizations to be designated as support institutions to promote usage and protect debtors. Japan's Enterprise Value Charge (EVC) system provides funding opportunities for asset-poor companies and is establishing itself as a new collateral framework that considers business sustainability. This can be particularly beneficial for startups with innovative ideas. To facilitate lending based on the borrower company's business value (business cash flow) and its future prospects, rather than relying on the value of individual collateral assets like real estate or accounts receivable, banks must continuously monitor the business cash flow. This enables early detection of vulnerabilities and support for problem resolution. South Korea also needs to introduce a system similar to Japan's Enterprise Value Charge (EVC). Legal frameworks for utilizing Enterprise Value Charge (EVC) and nurturing talent are crucial. This will create an environment where South Korea's SMEs and startups can more smoothly secure funding and grow.