Capital Loans Target Credit Search Reaches IDR 1.8 Trillion Throughout 2024

Illustration. (Photo: Doc. Antara)

JAKARTA - Platform financial technology peer-to-peer (fintech P2P) lending (pinjol) PT Modal Rakyat Indonesia (ModalRakyat) targets the distribution of company financing to reach Rp1.8 trillion throughout 2024.

Capital CEORakyat Christian Hanggra said his party closed the 2023 financial year with funding of around Rp1.4 trillion. Loans disbursed target the small, medium-sized business (SMB) segment or small and medium enterprises (SMEs).

"The segment is more to SMB. Of course, many are funded in the trade segment, such as logistics and e-commerce. The financing target this year is IDR 1.8 trillion," Christian told reporters, quoted on Tuesday, January 23.

Christian said that the majority of capital debtors came from companies and individuals who had Business Identification Numbers (NIB).

"For corporate (barrow), we are above 200 clients. For individual borrower funding there are 10,000," he said.

In addition, he added that ahead of the democratic party in February 2024, his party saw many players who would wait and see.

This, said Christian, referring to data from the Statistics Agency (BPS) where when the election occurs, the outstanding loans or distributions, both banks, multi-finance and P2P, will tend to decrease. However, after the election is over, he continued, outstanding loans or distributions will stabilize again or even increase.

"So, maybe in the first semester (2024) a little more will be affected. Semester II (2024) will be normal again," he added.

As for 2024, ModalRakyat is known to have provided funding of IDR 30 billion year-to-date or from January 2024 to today.