OJK: Financing Pinjol Cs To MSMEs Reaches IDR 19.7 Trillion

Illustration (Photo: Doc. Antara)

JAKARTA The Financial Services Authority (OJK) reports that until the end of May 2023 the total outstanding lending and financing of fintech lending to MSMEs has reached Rp19.7 trillion.

This is the OJK press release which was reported today, Friday, July 7. It was stated that the authorities continued to encourage financial access to the productive sector.

"This is especially for MSMEs who are still having difficulty obtaining financing from the banking sector or other formal financial institutions," said the institution led by Mahendra Siregar.

OJK said fintech lending is an alternative financing that is fast and easy for MSMEs to develop their business.

"Financing to MSMEs is up 38.4 percent from the total outstanding fintech lending financing," said OJK.

In general, the outstanding number of fintech lending financing in all sectors until May 21, 2023 reached IDR 51.4 trillion.