Acuon Savings Bank is expanding financial support for small business owners by introducing a dedicated credit loan product through Toss.
On July 14, Acuon Savings Bank announced the launch of the 'Personal Business Owner All-On Loan,' specifically designed for individual business owners.
The loan offers interest rates ranging from 11.90% to 19.90%, with a maximum limit of 50 million won. The loan term is set between 12 to 36 months. Small business owners and individual entrepreneurs with at least six months of operational history can apply via the Toss app.
The 'Personal Business Owner All-On Loan' features a unique alternative credit assessment model that evaluates not only the personal credit of the business owner but also the operational conditions of the business. This model integrates the existing credit evaluation framework of Acuon Savings Bank with the 'Toss SOHO Score,' co-developed with Korea Evaluation Data, enhancing the accuracy of the assessment.
The evaluation of business owners utilizes Toss's MyData and customer platform usage patterns to reflect financial transaction behaviors and fund management characteristics. This approach allows for a more comprehensive assessment of the borrower's repayment capacity, which was previously difficult to gauge using traditional financial information alone.
The assessment of the business environment includes a comprehensive analysis of factors such as the risk of rent increases based on market maturity, the proportion of external customers, and the stability, growth potential, and operational capacity of the market.
An Acuon Savings Bank representative stated, "We hope this product will serve as a starting point for a financial ecosystem that grows alongside local markets, and we will strive to improve the funding environment for small business owners and individual entrepreneurs who are often in financial blind spots."
* This article has been translated by AI.
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