Shinhan Bank is expanding its financial support for outstanding merchants using its delivery application, 'Ddaenggyeo.'
On August 18, Shinhan Bank announced the launch of the 'Ddaenggyeo Outstanding Merchant Loan' to support stable business operations and growth for Ddaenggyeo merchants.
This product is available to self-employed individuals who have been in business for more than six months and have an average monthly sales of over 10 million won in the previous six months. Merchants must designate their Ddaenggyeo settlement account and Shinhan Card merchant payment account with Shinhan Bank, and utilize at least one major delivery platform's settlement account with Shinhan Bank.
The loan limit is up to 100 million won, determined based on the average monthly sales or average monthly Shinhan Card transaction amount over the previous six months. Borrowers can choose a loan term of one to three years.
This product is characterized by utilizing sales and operational data accumulated through Ddaenggyeo for loan assessments. It broadens the scope for determining loan limits compared to the existing 'Ddaenggyeo Business Loan' and links various transaction information to reflect actual business performance in financial conditions.
Loan repayments will utilize a Banking-as-a-Service (BaaS) based automatic repayment account service. When sales settlement funds are deposited into the account, the principal will be automatically repaid according to the agreed method.
The alternative credit evaluation model has also been enhanced. Approximately 1,100 additional data points related to Ddaenggyeo, including participation in preventive services and small payment information, will be used alongside existing alternative data, totaling over 1,700 items for credit evaluation. Based on this, businesses with excellent evaluation results will have their internal credit ratings raised by one level.
A Shinhan Bank official stated, 'We will continue to expand financial and non-financial support necessary for small business operations.'
* This article has been translated by AI.
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