KakaoBank Contributes 500 Million KRW to Financial Support for Daegu Small Business Owners

Daegu Shinbo and Sangsaeng Guarantee Sign Business Cooperation Agreement

KakaoBank is expanding its financial support for small business owners in Daegu, following Busan and Incheon.

On the 31st, KakaoBank announced that it signed the ‘Daegu City Win-Win Guarantee Business Agreement’ with the Daegu Credit Guarantee Foundation (Daegu Shinbo).

KakaoBank made a special contribution of 500 million KRW to Daegu Shinbo, which will use this fund to support a guarantee agreement worth 7.5 billion KRW. The plan is to expand financial support for self-employed individuals in Daegu to strengthen the self-sustainability of small business owners and revitalize the local economy.

On the 1st of next month, KakaoBank will launch a specialized product for small business owners in Daegu called the 'Daegu City Win-Win Guarantee Loan.' The support target is individual business owners located in Daegu with a representative’s personal credit score of 595 or higher. The loan limit is up to 100 million KRW.

The Daegu City Win-Win Guarantee Loan can be applied for non-face-to-face through the KakaoBank application (app). It is also possible to visit a Daegu Shinbo branch to receive a guarantee certificate and then apply through the KakaoBank app. Additionally, KakaoBank is supporting 50% of the guarantee fee for customers who execute guarantee certificate loans for individual business owners until the end of the year.

This month, KakaoBank signed win-win guarantee business agreements with three credit guarantee foundations in Busan, Incheon, and Daegu. In September, it plans to sign agreements with regional credit guarantee foundations and launch additional support products for small business owners. Guarantee products based on financial institution contributions offer preferential treatment in loan limits and guarantee ratios, making them advantageous products for individual business owners.

A KakaoBank official stated, "Ahead of the holiday season when demand for funds increases, we decided to make consecutive special contributions to credit guarantee foundations to ease financial burdens. We will continue to provide financial support to individual business owners and contribute to revitalizing the local economy."