Toss Bank Expands CEO Guarantee Loans... Collaboration with Regional Credit Guarantee Foundations

Loan Execution Plan of 6 Billion KRW
Lowest Interest Rate at 1.84% Per Year

Toss Bank announced on the 25th that it will launch a guaranteed loan product for individual business owners and small business owners located in provincial areas in cooperation with five regional credit guarantee foundations. This product is part of an agreement Toss Bank signed last year with regional credit guarantee foundations, and a total loan amount of 6 billion KRW is expected to be executed.

This product is offered through partnerships with the Gyeongbuk, Gyeongnam, Daegu, Incheon, and Busan Credit Guarantee Foundations. It targets individual business owners residing in these regions with a NICE credit score of 595 or higher.

The base interest rate is applied up to an annual 4.84% (as of the 24th), and customers eligible for secondary interest subsidy support can receive up to a 3% annual interest subsidy, lowering the applied interest rate to as low as 1.84% per year. The loan limit is up to 100 million KRW, and the loan period is up to 7 years (including a grace period of up to 2 years), with principal repayment made in equal installments after the grace period ends.

A Toss Bank official stated, “By cooperating with credit guarantee foundations in each region, we have made it easier for more individual business customers to receive financial support,” and added, “We will continue to expand guaranteed loan products in cooperation with various financial institutions so that individual business owners can operate their businesses stably.”