Illegal private lending prevention loan: eligibility & rates

Formerly the small living-expense loan. Same-day emergency loans up to ₩1M for low-credit borrowers

Gov. loans As of 2026 Inputs not saved No install or sign-up
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Illegal private lending prevention loanKorea Inclusive Finance Agency · emergency living costs
Rate
4.5–12.5%/yr
Limit
₩1M standard (₩500K + ₩500K with a late-payment history)
Period
24 months, equal principal & interest
Who qualifiesBottom 20% credit score and annual income of ₩35M or less (credit score doesn't matter for basic livelihood recipients, near-poverty households and earned income tax credit recipients)
LimitNo late-payment history ₩1M · late-payment history without proof ₩500K (+₩500K more) · ₩1M with proof of medical, housing or education costs
Rate12.5%/yr (9.9% for socially vulnerable groups); after 6+ months of use and full repayment, re-borrowing at 4.5%/yr
Period24 months, equal principal & interest, no grace (about ₩47K a month for ₩1M)
How to applyBook a consultation at 1397, then visit an Inclusive Finance Support Center; conditions include completing financial education

How much a month with this loan?

×₩10K
%
years
Monthly payment
-

Checklist

  • From 2026, the former small living-expense loan offers only additional loans to existing users, until year-end.
  • Check this before turning to illegal private lenders. If you already have, you can get free debtor's representative support.
Find government loans you qualify forKorea Inclusive Finance Agency (1397) ↗FSS illegal private finance report (1332) ↗
What to check next
  1. Government loan finder (eligibility check)Find the government loans you qualify for by income, assets and household
  2. Find the right debt adjustmentFind the program that fits your overdue period, income and debt size
  3. Loan interest calculatorMonthly payment and total interest by repayment method
Official agencies

What is the illegal private lending prevention loan?

Formerly the small living-expense loan. Same-day emergency loans up to ₩1M for low-credit borrowers. A policy finance product run by the Korea Inclusive Finance Agency, designed to offer lower rates than commercial loans or to be available even with lower credit. You must meet every condition in the table above; the final limit and rate depend on the review.

What to prepare before applying

  • Proof of income (withholding receipt · income certificate)
  • Resident registration and family relation certificates (to check household requirements)
  • Proof of employment or business, credit score check

Related calculators

Compare your total repayment burden with other loans in the DSR calculator, and total interest by repayment method in the loan interest calculator.

This guide is based on 2026 disclosures and press releases; government loan terms change often with government announcements and fund operations. Always check the latest terms with the official agency before applying. This page doesn't broker loans.

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