Hana Bank and Seoul Credit Guarantee Foundation to Provide 200 Billion KRW in Loans to Small Business Owners

Up to 10 Million KRW Overdraft Loan
Support for Seoul Small Business Owners through Collaboration with Seoul City and Seoul Credit Guarantee Foundation

Hana Bank announced that it will support the "Seoul Small Business Owner Safe Account Loan" in collaboration with the Seoul Metropolitan Government and the Seoul Credit Guarantee Foundation, targeting sole proprietors with business locations in Seoul.

The total support amount is 200 billion KRW, and eligible applicants are sole proprietors with business locations in Seoul, those who have obtained a guarantee certificate from the Seoul Credit Guarantee Foundation, and those whose representative has a NICE credit score of 600 or higher. The maximum loan limit per business is 10 million KRW, and the term can be extended annually for up to five years. The loan is provided in the form of an overdraft account to help business owners respond to sudden funding needs. There are no commitment fees or unused limit fees, which is expected to significantly reduce the burden for sole proprietors with irregular capital needs or who require liquidity.

Hana Bank will cover 50% of the guarantee fee incurred at the time of the initial loan agreement. In addition, for new customers who sign up for the "Seoul Small Business Owner Safe Account" and apply in advance, the bank will hold an event to provide coffee gifticons to the first 10,000 applicants.

Applications for the guarantee certificate can be submitted starting at 9 a.m. on the 28th via the Seoul Credit Guarantee Foundation's mobile application, using a five-day rotation system based on the last digit of the applicant's year of birth. From September 4, applications can be submitted without restrictions. The entire process, from applying for the guarantee certificate to screening and agreement, has been made non-face-to-face to prioritize customer convenience.

A Hana Bank representative stated, "We developed this product to help alleviate funding difficulties and secure emergency funds for sole proprietors with business locations in Seoul," adding, "We will continue to strive to support more sole proprietors through a variety of products and services."