Monetary policy affects bank lending differently for households and firms. In Korea from 2010 to 2019, business loans are significantly impacted by monetary policy, while household loans are not. This is because business loans have shorter maturities, making them more directly influenced by policy changes. As a result, new or refinancing business loans are more affected by monetary policy shocks compared to household loans. This finding has important implications for managing debts in the household and business sectors.