Search results for local credit guarantee foundations
Finance
Saemaeul Geumgo to support 200 billion won in low-interest loans for small merchants
Saemaeul Geumgo will provide about 200 billion won in low-interest loans to ease financial burdens for small merchants and small firms. It said on Aug. 18 it is promoting a local government cooperation financial support programme with local credit guarantee foundations. Saemaeul Geumgo contributes funds to the guarantee foundations, which provide guarantees that underpin the loans, while local governments support loan interest.
Finance
Small business credit scores to factor in sales, trading areas; 16 banks to apply 2.2 trillion won
A new credit scoring system for small business loan screening will start operating from late August, evaluating future growth potential using data such as sales, local trading areas, employment and online activity in addition to the owner’s past financial history. The scope will expand from 7 banks and 1.8 trillion won to 16 banks and 2.2 trillion won. Authorities also plan to use the model for a dedicated loan product and future guarantee reviews.
Finance
K Bank solo proprietor loans top 5 trillion won, 1.52 trillion won supplied in first half
K Bank said cumulative loans to sole proprietors topped 5 trillion won, reaching 5.19 trillion won as of end-June. Lending rose from 260 billion won in 2022 to 1.84 trillion won last year, with 1.52 trillion won supplied in the first half of this year, about 82 percent of the 2025 total. The bank said the share of guaranteed and secured loans rose to about 45 percent and it plans to expand limits and collateral coverage.
