K Bank is set to implement a 'Small Business Specialized Credit Evaluation Model' (SCB) for personal business loans. The initiative aims to expand loan limits and improve financial accessibility for small business owners by utilizing non-financial information such as sales, industry, and market area.
On September 30, K Bank announced that it will apply SCB to its 'Owner's Credit Loan' and 'Owner's Credit Loan Switch' products. SCB is a model that assesses the creditworthiness of small business owners by incorporating non-financial data during the loan review process.
Following the Financial Services Commission's announcement in April regarding the introduction of SCB, eight banks began pilot operations on August 31.
K Bank plans to supply personal business loans using SCB at an annual scale of 150 billion won, the largest among internet-only banks.
Small business owners with a high 'growth rating' in the SCB evaluation can receive preferential loan limits within the maximum range of 300 million won for the Owner's Credit Loan.
SCB will also be applied to the Owner's Credit Loan Switch. Small business owners who switch their existing personal business loans from other banks to K Bank and receive a high growth rating will be eligible for increased loan limits. By utilizing additional loans, they can secure extra business funds alongside refinancing.
K Bank has been rapidly expanding its supply of personal business loans. As of the end of June, the cumulative supply of personal business loans exceeded 5 trillion won. The supply amount for the first half of this year reached 1.52 trillion won, accounting for about 82% of last year's total supply.
A K Bank official stated, "With the introduction of SCB, we can more accurately assess the growth potential and future repayment ability of small businesses. We will continue to reduce financial blind spots and provide more financial opportunities to a greater number of customers, expanding our role in inclusive finance."
On September 30, K Bank announced that it will apply SCB to its 'Owner's Credit Loan' and 'Owner's Credit Loan Switch' products. SCB is a model that assesses the creditworthiness of small business owners by incorporating non-financial data during the loan review process.
Following the Financial Services Commission's announcement in April regarding the introduction of SCB, eight banks began pilot operations on August 31.
K Bank plans to supply personal business loans using SCB at an annual scale of 150 billion won, the largest among internet-only banks.
Small business owners with a high 'growth rating' in the SCB evaluation can receive preferential loan limits within the maximum range of 300 million won for the Owner's Credit Loan.
SCB will also be applied to the Owner's Credit Loan Switch. Small business owners who switch their existing personal business loans from other banks to K Bank and receive a high growth rating will be eligible for increased loan limits. By utilizing additional loans, they can secure extra business funds alongside refinancing.
K Bank has been rapidly expanding its supply of personal business loans. As of the end of June, the cumulative supply of personal business loans exceeded 5 trillion won. The supply amount for the first half of this year reached 1.52 trillion won, accounting for about 82% of last year's total supply.
A K Bank official stated, "With the introduction of SCB, we can more accurately assess the growth potential and future repayment ability of small businesses. We will continue to reduce financial blind spots and provide more financial opportunities to a greater number of customers, expanding our role in inclusive finance."
* This article has been translated by AI.
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