Nonghyup Bank partners with Korea Credit Guarantee Fund (KODIT) to launch non-face-to-face guarantee loans, offering up to KRW 100 million per business

[Financial News] NH Nonghyup Bank is teaming up with KODIT to launch a non-face-to-face guarantee loan service for small and medium-sized enterprises and small business owners. The bank plans to let customers complete loan procedures on mobile devices without visiting a branch and provide up to KRW 100 million in working capital per business.
According to financial-sector sources on the 2nd, Nonghyup Bank signed an MOU with KODIT on October 30 to promote non-face-to-face and digital finance. Vice President Eom Eul-yong of Nonghyup Bank’s Corporate Banking Division and Director Chung Hyun-ho of KODIT’s Credit Business Division attended the signing ceremony.
Under the agreement, Nonghyup Bank plans to launch the Easy-One Guarantee Loan in the first half of next year. The product is a non-face-to-face financial service that allows customers to apply for guarantees and loans through a mobile platform without visiting a guarantee institution or bank branch in person.
Once the product is launched, customers will be able to complete the entire process in one go through the NH Allone Bank app or NH Corporate Internet Banking, from applying for a guarantee or loan to submitting documents, signing electronic agreements and receiving the loan. Nonghyup Bank aims to improve access to financial services for individual business owners and small and medium-sized corporations, and support business stability by reducing the time and burden involved in visiting a branch. It also plans to expand productive finance through the service.
In addition, Nonghyup Bank plans to provide up to KRW 100 million in working capital per business, with a 100% guarantee ratio, based on a special contribution from the bank. The plan is to help small and medium-sized enterprises and small business owners secure funding and ease their financial burden.
Vice President Eom said, “I expect this agreement to significantly improve access to financial services for small business owners and small and medium-sized enterprises who have difficulty visiting a branch,” adding, “We will continue to innovate our digital financial services from the customer’s perspective and create a financial environment that is easy and convenient to use anytime, anywhere.”
[email protected] Seo Ji-yoon Reporter