[Sponsored Report] KB Card offers new biz loan

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[Sponsored Report] KB Card offers new biz loan

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KB Kookmin Card launched a new loan program, “KB Kookmin Franchise Loan,” for franchise owners. Provided by the company


Amid worrying projections of prolonged euro zone crisis and the lowered growth estimate announcement by the Bank of Korea, KB Kookmin Card, one of Korea’s major bank-affiliated credit card firms, launched a new loan program dubbed “KB Kookmin Franchise Loan” for small businesses and franchise owners.

The eligible borrowers for the loan are individual business owners who have been a member store of KB Kookmin Card.

The company offers annual interest rates as low as 7.5 percent and can lend up to 30 million won ($26,325). The interest rate and the maximum loan amount will vary depending on the credit score and borrowing history of the borrower.

The loan term is between three months and three years, and the interest-only period can be up to six months. There is no additional fees for processing or fee for early repayment. Especially the franchise owners of DC#, O Good Shop and Star Shop which benefit as KB Kookmin Card member shops can receive up to 30 percent discount in interest. In addition, if a member shop sales exceeds 7 million won from the second month for three months, they can also receive the interest sliding service of enjoying 0.2 to up to 1.0 percentage point discount in interest rate every three months. The loan is available through KB Kookmin Card’s Web site (www.kbcard.com) or by phone (1588-2788) without having to visit a branch in person.

To celebrate the launch of the franchise loan, KB Kookmin Card will provide a 10 percent discount for their interest rate for each customer who receives a loan using this product until Aug. 6. (The lowest interest rate after discount is 6.8 percent). During the event, clients who take out the loan exceeding 3 million won will get a chance to win a gift through lottery.

The credit card company also said, “Following the KB Kookmin blue-chip office worker loan that we launched May, we have launched a new product where blue-chip franchise members can enjoy a similar interest rate with that of bank credit loan. We will work hard to introduce specialized products that meet the needs of each client.”

By Lee Ji-hyun [concordia@joongang.co.kr]

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