For Individual Business Owners with Credit Scores Between 710 and 839
Everyone Receives the Same Annual Interest Rate of 5.62%
Loan Limit Up to 30 Million KRW Provided
K Bank has introduced a personal business owner guarantee loan that allows easy borrowing up to 30 million KRW even with a low credit score.
On the 1st, K Bank announced the launch of the ‘Sajangnim Mid-Credit Guarantee Loan’ product in partnership with the Credit Guarantee Foundation. This is the third guarantee loan product since the launch of the non-face-to-face exclusive ‘Sajangnim Guarantee Loan (Ontact Guarantee Loan)’ for small business owners in May last year.
The ‘Sajangnim Mid-Credit Guarantee Loan’ is a Credit Guarantee Foundation guaranteed product for mid-credit personal business owners with a credit score (based on NICE) between 710 and 839 and who have been registered as a business for more than 6 months.
Anyone who passes the regional credit guarantee foundation guarantee screening and loan screening for the ‘Sajangnim Mid-Credit Guarantee Loan’ receives the same interest rate of 5.62% per annum (as of the 1st). The loan limit is up to 30 million KRW, and the loan period is 5 years (1 year grace period, 4 years equal principal repayment).
For busy personal business owner customers, the entire process from loan application to guarantee screening and loan execution is conducted 100% non-face-to-face.
Customers who have already visited the Credit Guarantee Foundation and completed face-to-face guarantee screening can also execute loans through the K Bank app. Previously, customers who completed face-to-face guarantee screening had to visit a bank branch to execute the loan, but K Bank allows easy loan access through the app.
Additionally, K Bank has launched a ‘Comprehensive Income Tax Refund’ service through a business partnership with the tax automation specialist company ‘G Enterprise’.
The ‘Comprehensive Income Tax Refund’ service uses AI technology to find missed tax credits or tax reductions from the past five years while filing business income tax and assists with refunds (revised claims).
The service targets personal business owner customers who have filed and paid comprehensive income tax within the last five years, and if they also operate a corporate business, refund inquiries are possible together. Even closed businesses can check if they have a tax payment history.
Customers can check the estimated refund amount for free in just one minute without any additional cost, and if desired, they can apply for the refund. A nominal fee will be charged for the refund service due to the work agency of the accounting firm partnered with G Enterprise.
The ‘Comprehensive Income Tax Refund’ can be found in the ‘Sajangnim’ menu under ‘All’ at the bottom right of the K Bank app.
A K Bank official said, “We have introduced a guarantee loan with an interest rate in the 5% range for mid-credit small business owners who have difficulty securing funds due to low credit scores,” adding, “We will continue to provide various services that support convenient financial life for personal business owner customers.”
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