Refer Report
Toss Bank, in cooperation with the Busan Credit Guarantee Foundation, is introducing financial support policy products for small business owners in the Busan area.
Toss Bank announced on the 2nd that it signed a ‘Busan City Small Business Financial Support Business Agreement’ on the 30th of last month at the Toss Bank headquarters in Yeoksam-dong, Seoul, with Toss Bank CEO Lee Eun-mi (right) and Busan Shinbo CEO Sung Dong-hwa (left) in attendance.
Through this agreement, Toss Bank and Busan Shinbo plan to launch a guarantee loan product for small business owners in the Busan area within the year. The product will be subject to a preferential guarantee rate of 0.8%. Through the secondary guarantee project, small business owners will also be provided with an interest support benefit of 1.5-1.7%p.
Applications can be made through the Toss Bank app and Busan Credit Guarantee Foundation branches, and those eligible for support are small business owners in Busan whose representative’s personal credit score is 595 or higher (based on NICE standards). The loan limit per business is up to 100 million won, and the loan period is up to 5 years.
Toss Bank expects that this product will be of great help to small and medium-sized businesses in the Busan area who are experiencing financial difficulties. In addition, as it recently signed a business agreement with the city of Seoul to provide financial support to small and medium-sized businesses, it plans to continue to expand cooperation with credit guarantee foundations in various regions in the future.
Eunmi Lee, CEO of Toss Bank, said, “I am glad that through this agreement with Busan Shinbo, we can now provide practical financial support, such as allowing small business owners in the Busan area to conveniently receive guaranteed loans without face-to-face contact.” She added, “Toss Bank will continue to expand its support for small business owners in various regions based on inclusive, innovative financial technologies, and strive to build a win-win financial model that grows together with small business owners.”
Reporter Kim Bo-hyung kph21c@hankyung.com
Source: Korean