The combined amount of loans taken out by small business owners in the nation has swelled to over one quadrillion won amid protracted financial difficulties stemming from the pandemic.

According to Bank of Korea data submitted to Rep. Yang Kyung-sook of the main opposition Democratic Party on Monday, small businesses were estimated to have taken out one quadrillion-19 trillion won-worth of loans as of the fourth quarter of last year.

Among the loans, 671-point-seven trillion won was business loans, while the rest, 348-point-one trillion won, was household loans.

Over 56 percent of the loan holders were already taking out three or more loans, raising the improbability of them taking out additional loans in case they need to borrow again.

Those multi-loan holders were estimated to owe 420 million won to financial institutions on average.