Recent analysis of Gyeonggi Province's Extreme Low Credit Loan 2.0 revealed that many applicants are facing severe financial difficulties. Approximately 30% of the applicants, out of 2,195 individuals, reported having utilized high-interest or illegal money lending. This data underscores the urgent need for emergency financial support for residents pushed outside of the formal financial system due to economic hardships.

A striking 74% of applicants indicated they needed the loans for living expenses, while 11% aimed to repay existing debts. The demographic breakdown showed that individuals in their 40s made up the largest portion of applicants at 34%, demonstrating how middle-aged households are significantly impacted by the economic downturn and high inflation. Moreover, applications were clustered in densely populated urban areas such as Suwon, Goyang, and Hwaseong, suggesting that the financial strain is particularly acute in these regions.

In response to the alarming findings, Gyeonggi Province plans to enhance the support system through the loan initiative to prevent further victimization by illegal money lenders and to assist vulnerable residents. Officials emphasized the intention to offer integrated support linking finance, employment, and welfare, and to give priority to those at high risk, including victims of illegal money lending. The Extreme Low Credit Loan 2.0 program itself offers loans up to 2 million won to Gyeonggi residents categorized in the bottom 10% of credit scores, with newly implemented measures like extended repayment terms and mandatory pre-loan consultations aimed at reducing the financial burden on applicants.