“Corporate loans, together too”: Toss Bank and Gwangju Bank’s “Joint Corporate Loan” designated an innovative financial service

[Financial News] Toss Bank and Gwangju Bank are expanding their joint lending model, which began with personal credit loans, into corporate finance. They aim to improve small and medium-sized business customers’ access to loans by combining Toss Bank’s online platform with Gwangju Bank’s expertise in assessing corporate loans.
According to the financial industry on the 15th, the “Joint Corporate Loan” that Toss Bank and Gwangju Bank had been preparing was newly designated an innovative financial service at the Financial Services Commission’s regular meeting on the 7th.
The Joint Corporate Loan is a product through which corporate customers apply for a loan via Toss Bank, after which the two banks assess the application separately and provide funds according to a ratio agreed in advance. It extends into corporate finance the collaborative structure of the two banks’ “Together Loan,” the financial industry’s first joint personal credit loan.
Corporate customers will be able to complete online most of the procedures for corporate credit and secured loans that have typically involved visiting a branch and meeting with staff in person. Most of the documents required for assessment will also be collected automatically, with the aim of easing the burden on small and medium-sized businesses that find it difficult to visit a bank while running their operations. Interest rates and loan limits will be determined using the two banks’ credit assessment models.
The Joint Corporate Loan combines the strengths of an internet-only bank and a regional bank. It is expected to establish itself as a productive finance model that expands the reach of corporate finance.
The two banks expect to share the risks of corporate lending and expand opportunities to provide loans through joint assessments and shared funding. They say that by combining their assessment capabilities and funds, they will also be able to provide loans to small and medium-sized businesses that one bank alone would have found difficult to serve.
Through this collaboration, Gwangju Bank plans to use Toss Bank’s platform to expand its reach among corporate customers nationwide, while Toss Bank aims to strengthen its lending competitiveness by drawing on Gwangju Bank’s experience in corporate finance.
A Toss Bank representative said, “The Joint Corporate Loan is a meaningful innovative product that helps small and medium-sized business customers conveniently secure the funds they need, with the two banks assessing applications together and sharing the funding burden.” The representative added, “Now that it has been designated an innovative financial service, we will work closely with the relevant organizations and continue preparing to offer corporate customers a new corporate lending experience.”
Meanwhile, Toss Bank’s Together Loan, recognized for its innovation as Korea’s first credit loan model in which an internet-only bank and a regional bank jointly issue loans, was designated an innovative financial service by the Financial Services Commission in June 2024.

[email protected] Lee Hyun-jung Reporter