K Bank Expands "Boss Real Estate Secured Loan" Refinancing to Mutual Finance Institutions

For the first time among secondary financial institutions, refinancing is now available for loans from Saemaul Geumgo, credit unions, and fisheries cooperatives
Lowering interest burdens and improving financial accessibility for "Boss" customers
Expansion of eligible business sectors for the loan

On October 13, K Bank announced that it has expanded the refinancing (switching) scope of its "Boss Real Estate Secured Loan" to include mutual finance institutions such as Saemaul Geumgo, credit unions, fisheries cooperatives, and agricultural cooperatives.

Since its launch in July last year, the "Boss Real Estate Secured Loan" has continued to expand its scope, introducing a subordinated refinancing product in March this year.

This is the first time that mutual finance institutions within the secondary financial sector have been included, allowing individual business owners to refinance their existing real estate secured loans with K Bank's "Boss Real Estate Secured Loan."

According to K Bank's analysis, a significant number of customers applying for refinancing had been rejected because their existing loans were not with banks, and most of these cases involved mutual finance institutions. With this expansion, these customers can now benefit from K Bank's lower interest rates and streamlined procedures.

This measure is expected to improve financial accessibility for small business owners and reduce their interest burden. Once refinancing for customers with loans from mutual finance institutions stabilizes, K Bank plans to gradually expand refinancing to other secondary financial institutions, such as capital companies and savings banks.

In addition, K Bank has broadened the range of business sectors eligible for the "Boss Real Estate Secured Loan." Individual business owners in five sectors previously excluded-including insurance agency and brokerage, loss adjustment, and golf course operation-are now eligible for the loan.

The "Boss Real Estate Secured Loan" has surpassed 400 billion won in total transactions in just over a year since its launch, driven by its low interest rates and simple procedures. K Bank plans to further strengthen its market presence by expanding the types of collateral and eligible business sectors for the loan.

A K Bank representative stated, "We have expanded the eligible customers and business sectors so that more people can benefit from lower interest rates and simplified procedures," adding, "We will continue to enhance financial convenience for small business owners through ongoing product innovation."

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