Withdraw Funds Anytime as Needed, Up to a Maximum Limit of 10 Million Won
Chungnam Credit Guarantee Foundation and KakaoBank announced on May 14 that they will launch a new type of financial product for small business owners called the "Chungnam Emergency Fund Account."
The "Chungnam Emergency Fund Account" is a guaranteed overdraft loan product designed for individual business owners with mid- to high-level credit. It allows users to withdraw funds as needed, up to a maximum limit of 10 million won.
Interest is charged only on the amount actually used, not on the entire credit limit, making it effective in reducing the financial burden for small business owners who need emergency funds.
Starting May 20, non-face-to-face applications will be available through the KakaoBank app, and the process can be completed quickly without submitting separate documents or visiting in person, thanks to automatic screening and guarantee linkage.
The "Chungnam Emergency Fund Account" was newly established as part of a 3 billion won guarantee contribution agreement between Chungnam Credit Guarantee Foundation and KakaoBank.
Based on these funds, Chungnam Credit Guarantee Foundation plans to provide guarantees totaling 45 billion won.
Jo Sohaeng, Chairman of Chungnam Credit Guarantee Foundation, stated, "We will actively support the Chungnam Emergency Fund Account so that small business owners can secure emergency funds through financial products with reasonable terms, rather than high-interest loans," adding, "By providing a simple and fast user experience, we aim to help close the gaps in financial accessibility."
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