Self-Employed Financial Service Launched... BNK Busan Bank Releases 'Individual Business Owner DongbaekONE Special Loan'

‘Self-Employed Hope-Filled High Project’ Launched

Available to Medium and Low Credit Self-Employed Workers

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] BNK Busan Bank has launched specialized financial services for self-employed individuals.

BNK Busan Bank announced on the 3rd that it launched the ‘Individual Business Owner DongbaekONE Special Loan’ as part of the ‘Self-Employed Hopeful High’ project on the 2nd.

This DongbaekONE Special Loan consists of two products: ▲Prime DongbaekONE Special Loan ▲Franchise DongbaekONE. It provides financial services for all self-employed individuals, from high-credit to medium- and low-credit borrowers.

The ‘Prime DongbaekONE Special Loan’ is offered to high-credit borrowers (CB grade 2 or higher) who are professional business owners or general self-employed individuals with business locations in Busan. It applies a loan interest rate as low as 2.92% per annum (as of June 2, 2022) depending on transaction performance.

The ‘Franchise DongbaekONE’ is offered to Dongbaekjeon franchisees who are small business owners with medium- to low-credit ratings, providing a special preferential interest rate discount ranging from 0.1%p to 0.3%p depending on loan conditions, with a minimum loan interest rate of 2.94% per annum (as of June 2, 2022).

For both products, customers do not need to visit branches or submit documents in person. Through scraping, a mobile document submission method, loan applications and execution can be completed via the mobile banking app.

Lee Soo-chan, Head of Credit Sales at Busan Bank, said, “We developed products available to both high-credit and medium- to low-credit borrowers to provide seamless financial support to small business owners in the Busan area.”

He added, “We will continue to discover financial services and innovative digital financial products that can coexist with local small business owners.”

Busan Bank declared the ‘Everyone’s Dongbaek (冬柏)’ service in May and implemented the ‘Everyone’s Dongbaek Special Preferential’ to reduce household credit loan interest rates. It is also known to be preparing to launch a personal specialized loan for Dongbaekjeon members in the second half of this year.