Loans · Finance

Illegal Private Lending Prevention Loan (불법사금융예방대출; formerly Microloan for Living Expenses, 소액생계비대출): How to Apply, Amount & Eligibility (2026)

Bottom 20% in credit and annual income of KRW 35,000,000 or less: up to KRW 1,000,000, 12.5% per year (9.9% for those with social consideration), 50% of interest refunded on full repayment

This page is a translation of the Korean original and is for reference only. The official Korean guidance is the authoritative source for amounts and conditions, so be sure to confirm on the official website before applying. View Korean original (한국어)

Benefit: Overhauled on January 2, 2026. Eligible: credit score in the bottom 20% and annual income of KRW 35,000,000 or less (basic livelihood recipients, near-poverty group and Earned Income Tax Credit recipients regardless of credit). Up to KRW 1,000,000 per person (existing overdue borrowers: base KRW 500,000 + additional KRW 500,000; overdue borrowers can also get KRW 1,000,000 with proof of medical, housing or education expenses). Interest 12.5% per year (9.9% for social consideration), 2-year equal principal-and-interest repayment, no early repayment fee. If fully repaid before maturity, 50% of interest paid is refunded (effectively 6.3%; 5% for social consideration), and if fully repaid after using the loan for 6 months or more, a re-loan at 4.5% per year is available.
Who is eligible: Bottom 20% in credit and annual income of KRW 35,000,000 or less (recipients, near-poverty group and Earned Income Tax Credit recipients regardless of credit)
When to apply: Year-round
How to apply: Visit an Inclusive Finance Integrated Support Center (서민금융통합지원센터; 50 locations nationwide) (reservation required via 1397); for additional or re-loans, use the Inclusive Finance Itda (서민금융 잇다) app
Important notes: Bring photo ID for identity verification. Bring supporting documents for the social consideration rate
Note: Completing financial education or joining the Welfare Membership is required. Those whose debts were settled through personal rehabilitation or debt restructuring are excluded from the incentives. Holders of the former product (15.9%) can only take additional loans until the end of 2026.

Go to the official guide →

Based on official sources as of 2026년 10월. Amounts and requirements may change, so please confirm with the official guide before applying.

Frequently asked questions

Illegal Private Lending Prevention Loan (불법사금융예방대출; formerly Microloan for Living Expenses, 소액생계비대출): who can receive it?

Bottom 20% in credit and annual income of KRW 35,000,000 or less (recipients, near-poverty group and Earned Income Tax Credit recipients regardless of credit)

Illegal Private Lending Prevention Loan (불법사금융예방대출; formerly Microloan for Living Expenses, 소액생계비대출): how do I apply?

Visit an Inclusive Finance Integrated Support Center (서민금융통합지원센터; 50 locations nationwide) (reservation required via 1397); for additional or re-loans, use the Inclusive Finance Itda (서민금융 잇다) app

Illegal Private Lending Prevention Loan (불법사금융예방대출; formerly Microloan for Living Expenses, 소액생계비대출): how much will I receive?

Overhauled on January 2, 2026. Eligible: credit score in the bottom 20% and annual income of KRW 35,000,000 or less (basic livelihood recipients, near-poverty group and Earned Income Tax Credit recipients regardless of credit). Up to KRW 1,000,000 per person (existing overdue borrowers: base KRW 500,000 + additional KRW 500,000; overdue borrowers can also get KRW 1,000,000 with proof of medical, housing or education expenses). Interest 12.5% per year (9.9% for social consideration), 2-year equal principal-and-interest repayment, no early repayment fee. If fully repaid before maturity, 50% of interest paid is refunded (effectively 6.3%; 5% for social consideration), and if fully repaid after using the loan for 6 months or more, a re-loan at 4.5% per year is available.

Illegal Private Lending Prevention Loan (불법사금융예방대출; formerly Microloan for Living Expenses, 소액생계비대출): when can I apply?

Year-round