Finda: Borrowers with Scores in the 400s Prefer Excellent Loans, 500-600s Favor Sunshine Loans

Users with credit scores ranging from 400 to 800 are primarily seeking loans such as credit and secured loans, as well as policy finance products like Sunshine Loans.

Finda reported on May 14 that an analysis of first-quarter data over the past three years revealed that borrowers in the 400 score range most frequently inquired about excellent loan products.

Those with scores between 500 and 600 showed a higher frequency of inquiries about Sunshine Loans and auto-secured loans. In terms of the size of agreements, credit and auto-secured loans, along with policy finance products (Sunshine Loans, Saitdol, and New Hope Loans), accounted for a significant portion across all score ranges from 400 to 800.

For borrowers in the 400 range, the most sought-after products in the first quarter of 2024 were Sunshine Loans, auto-secured loans, and home equity loans. However, in 2025, interest shifted towards home equity loans, auto-secured loans, and credit loans. In the first quarter of this year, excellent loan products accounted for 61.7% of inquiries, marking the highest interest. Finda attributed this trend to the expansion of its excellent loan brokerage service, which was first introduced in October of last year and has gained traction among low-credit borrowers.
  
In the 500 score range, the inquiry rate for auto-secured loans has been the highest in the past three years. For those in the 600 range, credit loan inquiries were the most common in 2024 and 2025, but this year, they have been surpassed by Sunshine Loans and auto-secured loans.

In the 700 score range, credit loans accounted for 33.3% of inquiries in the first quarter of this year, followed by auto-secured loans (22.6%), Saitdol loans (16.1%), Sunshine Loans (13.9%), and home equity loans (5.9%). In the 800 score range, demand for credit loans, along with Sunshine Loans, Saitdol, and auto and home equity loans, has remained steady.

Lee Hye-min, CEO of Finda, stated, "Among mid- to low-credit borrowers, preferences for loan products vary by score range, making precise product matching essential."