Cafe24 Supports Online Unsecured Financial Services for Small and Medium Businesses with KB Kookmin Bank

Cafe24 is providing unsecured financial services for online business operators based on its platform in collaboration with KB Kookmin Bank.

[Asia Economy Reporter Lim Chunhan] Cafe24 announced on the 6th that it will provide unsecured financial services for online business operators based on its platform in collaboration with KB Kookmin Bank. This is the first case in Korea where an e-commerce platform and a first-tier financial institution bank have introduced such a service. Until now, online business operators found it difficult to use services from first-tier financial institutions due to the lack of collateral like offline stores.

The two companies have significantly lowered the eligibility criteria for various online business operators seeking business opportunities. Any business operator who is a Cafe24 member and has operated an online shopping mall applying a payment (PG) system for more than one year can apply. There are no restrictions based on company size or sales volume. Support is available for everyone from solo entrepreneurs to corporate business operators.

Support is provided to easily expand the scale of business funds as online business operators grow. If the sales settlement amount increases, applicants can immediately request a credit limit increase at their desired time. A higher limit compared to existing financial products is also a strength. The maximum limit is 100 million KRW for individuals and 300 million KRW for corporations. Applications can be made by downloading the application from the Cafe24 Store.

Lee Jaeseok, CEO of Cafe24, said, "We expect that by lowering the entry barriers to first-tier financial institutions together with KB Kookmin Bank, this financial service will greatly support the growth of online small and medium-sized enterprises," adding, "We will continue to introduce comprehensive financial services that support the success of online businesses."

This content was produced with the assistance of AI translation services.