정부지원 대출상품 종류If you can’t get a loan because your credit score or income is low, or if you have to pay very high interest rates, there are loan products for people with medium to low credit that are worth looking into. The products introduced below are all ‘policy microfinance products’ operated by the government.
We provide loans to people with low incomes and low credit to start and operate a business without collateral or guarantee.
Applies to those with a personal credit rating in the bottom 20% (NICE 749 points, KCB 700 points or less as of 2023), recipients of basic livelihood security, the next lowest class, or those eligible to apply for work incentives.
However, ① If personal rehabilitation or personal bankruptcy has been applied for or has been approved by the court ② If you are planning to start a manufacturing, financial, insurance or related service industry, or an industry that promotes luxury-oriented consumption or speculation ③ Provisional registration of the applicant’s property, ( A) In cases where legal procedures such as seizure, provisional injunction, or auction are in progress, the scope may be limited.
1) Startup funds: You can borrow up to 70 million won for up to 6 years. The amount of money that can be borrowed may vary depending on the purpose, and the interest rate is within 4.5%.
2) Operating funds and facility improvement funds: You can borrow up to 5.5 years with a limit of 20 million won. The interest rate is within 2% during the grace period and within 4.5% during the repayment period.
3) Emergency living funds: You can borrow up to 10 million won for up to 5 years. The interest rate is within 4.5%. However, only those who have previously received funds for starting a microfinance business or improving operating facilities and who have repaid it faithfully are eligible to apply.
If you repay the money faithfully, the interest rate can be reduced, and if you are in the next lower income bracket, you can also receive support from the ‘Smile Dream Savings’.
1) Employee Sunshine Loan
Among those who have worked at their current job for more than 1 month and more than 3 months within the past year, their annual income is KRW 45 million or less and their personal credit score is in the bottom 20% (NICE 749 points, KCB 700 points or less as of 2023) or People with an income of 35 million won or less can receive it.
You can borrow up to 20 million won, and the interest rate is less than 11.5% per year, but may vary. You can borrow for a total of 5 years, and the principal must be repaid in equal installments.
2) Business Sunshine Loan
Among those with an annual income of 45 million won or less and a personal credit rating of 20% or less, or those with an annual income of 35 million won or less, business owners and agricultural, forestry and fishermen can receive it.
You can borrow up to 20 million won for business operating funds and up to 50 million won for start-up funds at an interest rate of up to 10.5% per annum (variable interest rate). You can borrow it for up to 5 years.
3) Sunshine Loan Youth
Applicants who are between 19 and 34 years old and who have an annual income of 35 million won or less or who have been employed at a small or medium-sized business for less than 1 year can receive it. However, you cannot receive it if you are registered as a business.
You can borrow up to 12 million won, and the interest rate is fixed at 3.5% per year. You can borrow for up to 15 years, and after an 8-year grace period, you can repay the loan in equal installments of principal and interest over 7 years.
In addition, there is Sunshine Loan Bank, which allows you to borrow money from first-tier financial institutions.
This is a product that provides loans to low-income and low-credit people who have difficulty getting loans from banks, with separate screening criteria.
We lend up to 35 million won to people with an annual income of 40 million won or less or a personal credit score of 20% or less and an annual income of 50 million won or less.
The interest rate is within 10.5% per year, and recipients of basic livelihood security, single parents/multiple children/multicultural families, and caregivers of parents over 60 years of age can receive preferential interest rates.
Additionally, if you faithfully repay for more than one year, you can receive additional support within the range of 5 million won.
This is a product that helps people with the lowest credit ratings, who have no choice but to use high-interest loans such as moneylenders or illegal private loans, to use bank loans as long as they meet the minimum standards.
You can borrow up to 20 million won, and the interest rate is 15.9% per year. If you repay the money faithfully, the interest rate is lowered every year. If you choose a 3-year loan, it goes down by 3.0%p, and if you choose a 5-year loan, it goes down by 1.5%p.
You can receive it if your annual income is 35 million won or less or your credit score is in the bottom 20% or less and your annual income is 45 million won or less.
This is a product that focuses on providing support to those with the lowest credit who are currently unable to use Sunshine Loan 15 due to past delinquency or other reasons. You must have an annual income of 45 million won or less and be in the bottom 10% of your personal credit score (KCB 670 points, NICE 724 points or less as of 2023).
You can borrow up to 10 million won, and you can borrow up to 5 million won when using it for the first time, and one additional loan is possible when you use it normally for more than 6 months.
The interest rate is 15.9% per annum including the guarantee fee, and if you repay faithfully, the interest rate is lowered every year.
Edit Song Su-a Graphic Ham Yeong-beom
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