[DigitalToday reporter Ji-young Lee] Toss said on March 18 it will launch 'Boss Credit Loan Refinancing', a service that allows sole proprietors to switch easily to lower-interest loans.

For the launch, Toss teamed up with a total of nine financial firms, including major banks such as Kookmin, Shinhan, Hana and K Bank. That is among the largest lineups among loan comparison platforms. Users can apply for refinancing in real time on the Toss app between 9 a.m. and 4 p.m. on each business day.

The service also aims to maximize convenience for business owners with busy work environments. Unlike household loans, which require MyData enrollment, loans for sole proprietors do not require a separate enrollment process. Key documents, including income proof, are submitted automatically after identity verification. Once a contract is completed after a non-face-to-face review, the existing loan is repaid automatically under the loan transfer process.

A Toss official said, "We raised service accessibility so business owners are not left out of financial benefits because they are focused on making a living." The official added, "In line with the push to expand inclusive finance, we will further upgrade the service so sole proprietors and small merchants can choose lower interest rates and feel tangible cost-saving effects."