Top Ddaenggyeoyo merchants eligible for loans up to W100m

[Shinhan Bank]
[Shinhan Bank]

Shinhan Bank announced Tuesday it has launched a loan product for top-performing merchants on the Ddaenggyeoyo online food delivery platform, offering up to 100 million won ($70,700) by incorporating their sales and operating data into credit assessments.

To qualify, merchants must designate Shinhan Bank as the settlement account for both Ddaenggyeoyo and Shinhan Card payments, and use Shinhan Bank for the settlement account of at least one other major online food delivery platform. Applicants must also have been in business for at least six months and have averaged monthly sales of at least 10 million won over the preceding six months.

The loan ceiling is 100 million won. Borrowing limits are calculated as a multiple of either the applicant's average monthly sales or Shinhan Card purchase volume over the prior six months — up to three times that figure if all major delivery platform settlement accounts are held at Shinhan Bank, or up to twice the figure if only one is. Loan terms run from one to three years, with repayment in installments.

A key feature of the product is that actual operating performance and sales trends accumulated on Ddaenggyeoyo feed directly into both the credit assessment and the loan limit calculation. About 1,100 data items from Ddaenggyeoyo — covering orders, sales and coupon usage — are added to the evaluation, bringing the total alternative data points used in credit scoring to roughly 1,700. Customers who score well receive a one-notch upgrade to their internal credit rating.

The product also includes an automatic repayment feature: once sales settlement funds are deposited, the loan principal is repaid according to the agreed schedule. Banking-as-a-Service technology underpins the arrangement, reducing the repayment management burden on small business owners and improving cash-flow convenience. With small merchants struggling under high delivery commission fees, Ddaenggyeoyo — which markets itself as offering the lowest commissions in the industry — is gaining recognition as a model combining a lifestyle platform with inclusive finance through supportive financial products.

"The significance lies in turning the sales and operating data that merchants have built up through their businesses into tangible financial benefits," a Shinhan Bank official said. "We will expand our financial and non-financial services so that Ddaenggyeoyo can grow into a mutual-benefit platform that supports small business owners across all aspects of their operations."


forest@heraldcorp.com