Hello~ I'm the current blog that tells you about loans and financial news. Many working-class people who need loans are looking for government-backed loans. Usually, government-supported loans to the working class are carried out after receiving a warranty review. However, the guarantee process is a real drag on ordinary people who are in urgent need of loans. Today, we will have a time to learn about the types of government-backed, unsecured loans for ordinary people.
Government-backed loans to the working class
These days, the government's policy of supporting loans to the working class is increasing in various ways. Sunshine and Sunshine 17 that require warranty are representative products. Since the Korea Institute for the Promotion of Low-income Financial Services provides a guarantee, you can get a loan if you get approval for the warranty review.
Just because you received the guarantee doesn't mean that the loan is over. You must submit a guarantee to the bank and pass the examination to get a loan. If the lender fails to meet its obligations, the government can guarantee the principal so that it can make loans to the poor.
Besides this, there are many other loans for the working class. However, most of them can be loaned based on a guarantee. Sunshine Loan is based on the guarantee of the Korea Institute for the Promotion of Public Finance. Saitdol loans are guaranteed by SGI Seoul Guarantee, small business loans are guaranteed by the Korea Credit Guarantee 폰테크 Foundation, and jeonse loans are guaranteed by the Housing City Fund. Then, is there a loan that doesn't require a guarantee?
Government-backed Unguaranteed Loans to the working class
Most government-backed loans can be borrowed from banks only when they are reviewed by the Korea Institute for the Promotion of the Low-income Financial Services. Trying to get a loan without guarantee can mean taking a loan directly from the government without going through the financial sector in other ways.
There is a loan product called Smile Finance in the type of government-backed, unsecured loans to the working class. It is a government-backed non-guaranteed loan for ordinary people who are unable to use the bank due to low credit, and can use the loan without collateral or no guarantee such as start-up funds, operating funds, living funds, and housing funds.
Government-backed Unguaranteed Loan Conditions for the working class
In order to use microfinance, the qualifications for each fund are different. Common conditions are applicable if you have a credit rating of 6 or below, or if you have the qualification to apply for basic living expenses, or work incentives.Even if you are not a recipient of basic living, you are often a low-credit person or you meet the requirements for applying for work incentives.
Types of government-backed, unsecured loans to the working class
Miso Financial Start-up Fund
You can get a loan for the purpose of renting a business and purchasing a livelihood vehicle. It can be used as initial facility funds or operating funds when starting a business.
Emergency livelihood fund
Only those who have used microfinance before are eligible to apply. Among them, it is a loan that can only be used by those who have paid back faithfully for more than a year or have no history of overdue payment.
Facility improvement fund
It is a loan product for the purpose of improving facilities in the workplace, and you can apply if you are running a business for more than six months with a business registration.
Miso Financial Management Fund
It is a loan that you can apply for if you are more than 6 months old after registering as a loan can be applied. You can use it for purchasing raw materials or products needed to run your business. A freelancer who provides human services can also get a loan of up to 10 million won.
a microfinance limit
The limit on microfinance of government-backed, unsecured loans to the working class is 20 million won, emergency livelihood loans 10 million won, operating funds 20 million won, start-up funds 70 million won, self-sufficiency 12 million won, and educational support loans 5 million won. It's an annual interest rate of 4.5%, and you can get financial consulting.
The participation of large corporations and financial institutions supported the economy of the working class and provided a lot of help. However, due to reckless lending due to low interest rates, there was a problem with a structure that was not approved by low-credit borrowers who were exposed to high-interest loans that really needed loans.So to improve these things, we've been revising the political system.
Currently, there is also a Hatzalon 17 loan package for low-credit borrowers with grades 7 or below, which has eased eligibility for unsecured loans and reinforced support.
Government-backed Unguaranteed Loans to the Low-income People Rejected
When a guarantee is issued, the Korea Institute for the Promotion of the Public Finance will go through a guarantee review, which will be rejected if it is deemed to have more debt or no income than income. That's why most unemployed people are rejected.
However, microfinance, regardless of income or occupation, can get a loan if it only fits the nature of the type of fund. In addition, the debt does not reject the loan, and the approval is confirmed after a comprehensive understanding of the cash flow of the person who wants the loan.
Today, we had a time to find out about the types of government-funded, unsecured loans to the working class. If you want to apply for microfinance for loans to the working class without a guarantee, visit the working class financial integration support center nearby, conduct counseling, and apply for a loan. Avoid high-interest loans and plan your loans wisely so you can get a wise loans.