Crazy! It's Only Been Three Years Since This Loan Has Successfully Disbursed Rp1 Trillion In Financing: The Money Came From BRI And Bank Mandiri

Money illustration. (Irfan Meidianto / VOI)

JAKARTA - The peer-to-peer lending technology financial services (Fintech) institution, Capital Rakyat, claims to have succeeded in channeling financing worth more than IDR 1 trillion until the beginning of 2021. This amount has been distributed to 5,000 debtors since with the main profile among micro, small businesses. , and medium (UMKM).

Chief Executive Officer (CEO) of Modal Rakyat Hendoko said that the peer-to-peer lending concept that his company promotes proves that the mutual cooperation funding system can fill gaps in the financing industry.

"This is also an encouragement for us to be able to participate more in the financing market share," he said in an official statement, Thursday, March 4.

Hendoko added that the pandemic situation has become an impetus for People's Capital to continue to increase productivity, especially the distribution of capital for MSME players.

"As we all know, the pandemic period has reduced mobility, including buying and selling activities. This makes business actors even more affected, "he added.

The financial services company type 4.0 revealed that there are several financial institutions that are sources of funding for People's Capital, including BRI, BRI Agro, Bank Mandiri, BPR Masyarakat Mandiri, and several other institutional lenders.

Since its establishment in 2018, as much as 49.07 percent of People's Capital financing has been channeled to information technology sector MSMEs.

Then, the trade sector is 26.97 percent and the rest is spread across lines, including construction, logistics, micro (credit agents), textiles, agriculture, advertising, and others. Meanwhile, total lending in the current year 2021 was recorded at Rp.201 billion.

"In the medium and long term, we hope this will have a positive impact on Indonesia's economic growth," he said.

Based on information on the official website, People's Capital said the company provides loan facilities with interest ranging from 12-30 percent per year. The interest rate will depend on the level of risk based on data analysis provided by the debtor.

Meanwhile, Bank Indonesia as the monetary authority in the country has set a benchmark interest rate of 3.5 percent for all domestic financial service institutions.

Meanwhile, peer-to-peer lending fintech companies are popular with the public because they are relatively fast in the credit disbursement process. In addition, many of them do not need to include collateral as a condition for applying for a loan.