IBK Industrial Bank launches i-ONE Merchant Success Loan... Up to 50 million KRW

Visit-Document-Collateral Free 3-No Service

[Asia Economy Reporter Yoo Je-hoon] IBK Industrial Bank announced on the 29th that it has launched 'i-ONE Franchise Success Loan,' a non-face-to-face loan product for card franchise stores facing a shortage of operating funds.

The Success Loan was designed to provide financial convenience to small business owners of card franchise stores through a three-no (無) service: no visit, no documents, and no collateral. This product can be applied for via corporate internet banking or the i-ONE Bank (corporate) application.

The target customers are individual business owners who have operated their business for over one year and use IBK Industrial Bank as the deposit account for BC Card franchise store sales proceeds. The loan limit is determined using the recent monthly card annual sales information as of the end of the month, allowing loans up to 50 million KRW.

To alleviate the financial burden on small business owners, interest rate discounts of up to 1.0 percentage point are also offered based on transaction performance such as corporate card payment records and registration of BC Card franchise store deposit accounts.

An IBK Industrial Bank official stated, "We launched this non-face-to-face exclusive loan to enhance financial convenience for small business owners of card franchise stores who are busy with their livelihoods," adding, "We hope this will be of some help to small business owners who find it difficult to visit branches."