Shinhan Card Launches New Loan Product Analyzing Small Business Sales and Commercial Area Data for Lending...

Utilizing the Individual Business Owner CB Model

Shinhan Card is launching a loan product for small business owners using the personal business credit evaluation (CB) model 'MyCredit.' By utilizing sales and commercial district information to analyze repayment ability precisely, the company aims to make it easier for small business owners to access financial products.

On the 18th, Shinhan Card announced the release of 'My Daily Neighborhood Commercial District Owner Loan,' a financial product specialized for small business owners, in collaboration with Daily Funding, an online investment-linked finance company.

This product is an online investment-linked finance product where Daily Funding receives investments from customers and provides loans to small business owners. Shinhan Card provides Daily Funding with the personal business credit evaluation service 'MyCredit' for credit and investment eligibility screening of small business owners, and Daily Funding uses this to manage the overall operation of the product, including loan screening, execution, and repayment management.

Shinhan Card's 'MyCredit' is a service that evaluates the creditworthiness of personal business owners by integrating alternative information owned by Shinhan Card, such as merchant sales, commercial district data, and customer preference information. A Shinhan Card official explained, "Compared to the existing financial sector's evaluation methods centered on personal credit information, this allows the use of characteristics such as the growth potential and stability of merchants in the evaluation, enabling a more precise analysis of the repayment ability of personal business owners."

Previously, in September 2021, Shinhan Card became the first financial company to obtain permission for personal business CB. It has developed personal business credit evaluation, sales estimation, business closure index, and business profile, providing related data to financial and public institutions. Daily Funding, registered as an online investment-linked finance company in September 2021, surpassed a cumulative loan amount of 800 billion KRW in the first half of this year.

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