[Asia Economy Reporter Junhyung Lee] Fintech startup Finda is partnering with BC Card to launch a merchant loan brokerage service.
On the 30th, Finda announced that it will be the first in the comparison loan platform industry to onboard BC Card and connect merchant loans. Until recently, Finda has provided comparison loan services focused on salaried workers' credit loans. Through this BC Card onboarding, Finda plans to expand its user base to include self-employed individuals. Considering that BC Card has established the widest merchant network nationwide, Finda's new service is expected to be accessible to a relatively large number of small business owners.
Individual business owners who are BC Card merchants among Finda users can apply for loans non-face-to-face. BC Card merchant loans offer a maximum loan limit of 50 million KRW and a maximum loan period of 60 months. The loan interest rate starts as low as 6.9% per annum. There are no handling fees, prepayment penalties, or other various fees.
Finda provides personalized comparison loan services in connection with 48 financial institutions. The number of financial institutions collaborating with Finda is among the highest in the industry. Users can view loan products from various financial institutions at a glance, including banks, savings banks, cards, and capital companies. Preferential interest rates of up to 4.4% are offered.
Park Hongmin, co-CEO of Finda, said, "We expect synergy between BC Card, which has the most merchant data, and Finda, which recently recorded 1 million downloads," adding, "We plan to continue collaborating so that anyone in need of a loan can receive recommendations for optimized loan products through Finda."
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