From Commercial Banks to Secondary Financial Institutions... Naver Pay Launches 'Business Loan Comparison'

Comparison Request Confirmed in 2 Minutes
Loan Application Remotely via Biro Without Document Submission or Branch Visit
1 Billion Ansim Care Product Also Offered for Executed Loans

[Asia Economy Reporter Minwoo Lee] Naver Financial is launching a loan comparison service for individual business owners. It will enable quick comparison of credit loan interest rates and limits from commercial banks including internet-only banks, savings banks, card companies, and capital companies.

Naver Financial announced on the 30th that it will launch the 'Naver Pay Business Loan Comparison' service. This service connects individual business owners to easily apply for loans with the most favorable conditions through financial companies' non-face-to-face channels.

The service is characterized by the ability to compare relatively accurate results with the actual loan screening results of financial companies. Linked with the Naver Certificate, accurate information such as income and sales is utilized from the loan comparison stage. Since the process of manual input by the business owner is omitted, interest rates and limits of available loan products are provided in about 2 minutes. Furthermore, the Naver Certificate is used during the financial company's loan screening process, so there is no need to visit offline branches or submit additional documents. It is explained that loans can be obtained with interest rates and limits almost identical to those confirmed through Naver Pay.

Measures have also been put in place so that business owners can safely compare and execute loans. Only business products that do not affect the personal credit score of the representative are listed in the Naver Pay Business Loan Comparison. Even if interest rates and limits are checked multiple times without executing a loan, there is no impact on the individual's credit score.

Additionally, Naver Financial will provide the 'Loan Safety Care' service free of charge for one year for loan products executed through this service. Through this, if the business owner suffers severe aftereffects or accidental death, the remaining loan balance will be repaid up to a maximum of 100 million KRW on their behalf.

Currently, first-tier financial institutions such as Woori Bank, Jeonbuk Bank, Toss Bank, and K Bank have joined the comparison service. Second-tier financial institutions participating include KB Kookmin Card, Lotte Capital, Welcome Savings Bank, Korea Investment Savings Bank, and OK Savings Bank. Hyundai Capital is expected to join in the future.

The Naver Pay Business Loan Comparison service is available within the Naver application (app) on the Naver Pay home, the Naver Pay app, and the ‘Naver Business Financial Center,’ a financial information channel for small business owners. It is available to any domestic online or offline individual business owner aged 19 or older.

Park Sangjin, CEO of Naver Financial, said, "We launched 'Naver Pay Business Loan Comparison' to become a 'financial ladder' that allows individual business owners to choose loans with the best conditions." He added, "We will continue to collaborate with financial companies to develop exclusive products that help business owners and enhance the service."

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