BCA Disburses IDR 20 Billion For People's Capital Loans To Distribute MSME Loans

Illustration (Photo: Doc. Antara)

JAKARTA - PT Bank Central Asia Tbk (BCA) reports that it has reached a cooperation agreement with peer-to-peer lending company PT Modal Rakyat Indonesia regarding capital support of IDR 20 billion.

BCA Senior Vice President Commercial & SME Business Elvriawati Tumewah said this step is a form of the company's support for the expansion of inclusive financing access for micro, small and medium enterprises (MSMEs) which are the main market share for People's Capital.

"As one of the national banks, we continue to collaborate to enlarge the role of MSMEs in the economy," she said in a press statement on Wednesday, November 10.

According to Elvriawati, this strategy is also a way for BCA to expand its business network and financing reach to MSME debtors by collaborating with financial technology (fintech) companies.

"In line with the government's commitment where financial inclusion is a priority, BCA as a banking institution is also committed to supporting it," she said.

In Elvriawati's view, business development in the digital era is currently growing rapidly so that various fintech have emerged to meet various community needs.

"BCA sees that the presence of this fintech has succeeded in opening new doors for the development of the banking business in the country," she asserted.

Through this collaboration, BCA allocates a limit of IDR 20 billion which will be distributed to MSMEs that are developing their business. Meanwhile, the synergy that is built will be carried out through a financing channeling facility with a debtor ceiling of a maximum of IDR 2 billion with a financing tenor of a maximum of three months.

For information, as of October 2021, BCA has recorded a total disbursement of digital partnerships of IDR 145.76 billion through various financing schemes.

While Modal Rakyat itself is an online loan company (pinjol) that is included in the 104 official fintech lending released by the Financial Service Authority (OJK) in November 2021. It is known that Modal Rakyat has distributed funding of IDR 2 trillion since operating in 2018.

"We hope that the transformation of MSMEs will be even stronger through this strategic collaboration. Going forward, BCA will continue to strive to provide access to inclusive financing to MSME entrepreneurs so that in the end we can support the economic transformation of MSMEs in Indonesia," concluded Elvriawati.