Acuon Savings Bank Launches 'Everyone On Loan for Sole Proprietors' Exclusively on Toss

Incorporating Toss MyData and Alternative Information
Collaboration with Korea Evaluation Data Provides Insights from 16,000 Commercial Areas
Leveraging Business Location Impact Analysis for Enhanced Assessment

Acuon Savings Bank announced on July 14 that it has launched the 'Everyone On Loan for Sole Proprietors,' a Toss-exclusive business credit loan product that can be utilized by small business owners and sole proprietors.

The standout feature of this product is the application of a 'composite alternative credit evaluation model' that takes into account not only the personal evaluation of the business owner but also the business environment of the workplace. The product is designed to provide a multi-dimensional assessment of small business owners' and sole proprietors' repayment capacity and business capabilities.

Acuon Savings Bank enhanced the discrimination power of its approval process by integrating the alternative credit evaluation model it developed in 2024 with the sole proprietors' credit evaluation model jointly developed by Toss and Korea Evaluation Data (KODATA).

For the evaluation of the business owner, the model incorporates Toss's accumulated MyData and customer platform usage patterns, including the business owner's financial transaction behaviors and platform usage history. This advanced approach allows for a more in-depth assessment of fund management habits that are difficult to determine using traditional financial data alone.

For the assessment of the business location, Acuon Savings Bank utilized alternative information quantifying the vitality of approximately 16,000 commercial areas nationwide, data which was secured in collaboration with Korea Evaluation Data. Specifically, the model factors in ▲ the risk of rent increases according to the maturity of the commercial area, ▲ the proportion of externally attracted customers sensitive to economic fluctuations, and ▲ information such as the stability, growth potential, and sales power of the commercial area. This enables a sophisticated calculation of how the business location's characteristics impact performance.

The loan interest rate ranges from 11.9% to 19.9% per annum, with limits from a minimum of 5 million won up to a maximum of 50 million won.

The loan period can be set between 12 and 36 months. Small business owners and sole proprietors with at least six months of business history are eligible to apply via the Toss application.

A representative from Acuon Savings Bank stated, "We hope this new product will serve as the starting point for a cooperative financial ecosystem that grows together with local commercial districts," adding, "We will continue to expand the development of cooperative financial products utilizing alternative data to create an environment where small business owners and sole proprietors can secure funding on more reasonable terms."

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