Toss Bank Launches Exclusive Loan Product for Export-Oriented Individual Business Owners

"Suteulttokttok Guarantee Loan" Launched
Toss Bank Introduces First Internet Bank Loan Secured by Korea Trade Insurance Corporation

Toss Bank announced on June 26 that it has launched the "Suteulttokttok Guarantee Loan," the first among internet banks to offer a loan secured by a 100% guarantee certificate from the Korea Trade Insurance Corporation.

This product was designed to help small and medium-sized export businesses access policy financing more easily. Toss Bank previously signed two business agreements with the Korea Trade Insurance Corporation in March and May, and this product marks the first implementation of those agreements.

The "Suteulttokttok Guarantee Loan" targets individual business owners whose sales exceeded 100 million KRW in the previous year and who have export records of at least 10,000 USD.

Borrowers can choose between a loan limit of 50 million KRW or 100 million KRW. The loan term is four years in total (with a two-year grace period followed by two years of equal principal repayment). The guarantee ratio is fixed at 100%, and the guarantee fee rate ranges from 0.5% to 2.0% per annum, determined by the Korea Trade Insurance Corporation's review. Notably, within the limit of the special contribution fund established by Toss Bank, the entire guarantee fee is covered, so there is no burden on customers. The loan interest rate starts at 4.47% per annum (as of June 26), and the funds can only be used as operating capital for individual business owners.

A Toss Bank representative stated, "We expect this will serve as practical support for export-oriented individual business owners who have found it difficult to benefit from the Korea Trade Insurance Corporation's guarantees," adding, "We will continue to make efforts to ensure that customers receive the funding they need in a timely manner."

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