Bank Mayapada Owned By Conglomerate Dato Tahir Collaborates With Modalku To Provide IDR 250 Billion Loan Disbursement For MSMEs

JAKARTA - As a form of support for the growth of the people's economic business, Bank Mayapada signed a cooperation agreement with the digital funding platform Modalku.

This cooperation agreement was carried out at the Mayapada office on Tuesday, October 19, 2021, and was signed by the President Director of Bank Mayapada, Hariyono Tjahjarijadi, and Modalku Co-Founder & CEO, Reynold Modalku. The form of cooperation carried out is with a credit distribution system of IDR 250 billion through Modalku with the role of Bank Mayapada belonging to conglomerate Dato Sri Tahir as an institutional lender.

Data from the Financial Services Authority (OJK) states that MSME (Micro, Small, and Medium Enterprises) credit growth is again in the expansion zone with the growth of 1.93 percent (yoy) as of July and 2.7 percent (yoy) in August.

"The collaboration between Bank Mayapada and Modalku is one of Bank Mayapada's steps to support the national economic recovery through access to capital, especially for people from various business lines, especially for MSME players who are the pillars of the Indonesian economy in order to help accelerate the national economic recovery," said the President Director of Bank Mayapada, Hariyono Tjahjarijadi in a written statement, quoted on Saturday, October 23.

Modalku Co-Founder & CEO, Reynold Wijaya said, his party saw a common vision with Bank Mayapada to expand access to capital so that it became the right opportunity for Modalku to be able to reach more MSMEs and contribute to increasing financial inclusion.

For information, Modalku provides access to funding for MSMEs starting from the micro-segment, including online entrepreneurs as well as the SME segment which already has a more stable turnover. Modalku not only supports businesses that already have a business license (PT/CV), but also individual businesses with a variety of products tailored to the characteristics and needs of MSMEs.

To date, the Modalku Group has disbursed loans of more than IDR 26.4 trillion to more than 4.8 million MSME loan transactions in Indonesia, Singapore, Malaysia, and Thailand.