Toss Bank announced that its joint corporate lending service with Gwangju Bank has been designated as an innovative financial service by the Financial Services Commission during its regular meeting on October 15.
The joint corporate lending allows business customers to apply for loans at Toss Bank, where both banks will assess the applications and provide funding according to an agreed-upon ratio.
The loan assessment will utilize credit evaluation models from both banks, which will help determine interest rates and limits tailored to each business's situation.
The two banks believe that by combining their assessment capabilities and sharing the loan funds, they can effectively distribute risks. Gwangju Bank aims to secure business customers nationwide through the Toss Bank platform, while Toss Bank plans to enhance its lending competitiveness by leveraging Gwangju Bank's corporate loan capabilities.
Business customers can apply for corporate credit and secured loans through Toss Bank's non-face-to-face channels, reducing the burden of visiting branches or having in-person consultations. Most of the documents required for loan assessments will be automatically collected to ease the preparation burden on customers.
A Toss Bank representative stated, "This product helps small and medium-sized enterprise customers conveniently secure the funds they need by having both banks jointly assess and share the funding. We will collaborate with relevant institutions to prepare new corporate lending services."
The joint corporate lending allows business customers to apply for loans at Toss Bank, where both banks will assess the applications and provide funding according to an agreed-upon ratio.
The loan assessment will utilize credit evaluation models from both banks, which will help determine interest rates and limits tailored to each business's situation.
The two banks believe that by combining their assessment capabilities and sharing the loan funds, they can effectively distribute risks. Gwangju Bank aims to secure business customers nationwide through the Toss Bank platform, while Toss Bank plans to enhance its lending competitiveness by leveraging Gwangju Bank's corporate loan capabilities.
Business customers can apply for corporate credit and secured loans through Toss Bank's non-face-to-face channels, reducing the burden of visiting branches or having in-person consultations. Most of the documents required for loan assessments will be automatically collected to ease the preparation burden on customers.
A Toss Bank representative stated, "This product helps small and medium-sized enterprise customers conveniently secure the funds they need by having both banks jointly assess and share the funding. We will collaborate with relevant institutions to prepare new corporate lending services."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.