Good News, Jerry Ng Conglomerate Bank Together Logisly Provides Access To Funding For Truck Operators

Illustration. (Photo: Doc. Antara)

JAKARTA - PT Bank Jago Tbk and the digital-based truck platform Logisly or PT Logisly Sophisticated Indonesia, collaborate to provide access to working capital funding for truck entrepreneurs who join the Logisly ecosystem.

Logisly CEO Roolin Njotosetiadi said that one of the main needs of truck entrepreneurs is working capital in the form of road money to carry out orders from logistics service users or shippers.

The road fee includes the cost of gasoline, tolls, driver's salaries, and other necessities during the delivery of goods. Travel money is the biggest expense and must be prepared up front. Meanwhile, the truckers only get payment after the delivery of goods is complete.

"We are very happy to be partnering with Bank Jago because it can help solve one of the problems faced by business actors in our ecosystem. With this financing, transporters can get an advance payment, and have working capital to receive more orders, which of course can be taken from the Logisly platform as well," said Roolin in his statement, quoted from Antara, Monday, July 12.

Currently, there are around 8 million trucks in Indonesia, most of which are owned by micro, small and medium enterprises (MSMEs). In running their business, they most often receive payment with a due after the goods are delivered.

Contracts with multinational entrepreneurs and governments are often offered with payment terms of up to 90 days, even 180 days. Due to limited capital, such conditions make it difficult for truck owners to serve more orders.

Meanwhile, working capital financing for such a business model is not widely available. As a technology-based bank that focuses on the small and medium business segment, Bank Jago, owned by conglomerate Jerry Ng, actually sees this collaboration with fellow digital platforms like Logisly as an opportunity to reach more MSME entrepreneurs.

"We are happy that there are banks that want to support digital ecosystem-based MSME players like Logisly," said Roolin.

Logisly is a digital-based truck platform that connects logistics service users or shippers with truckers or transporters.

Currently, Logisly has served more than 350 shippers ranging from local companies such as Nabati and Orang Tua Group to multinational companies such as Coca Cola and Haier.

Logisly's network also includes more than 1,000 trucking companies that have shipped from Aceh to Papua.

PT Berkah Pratama Kaisal, one of Logisly's transporters who has received road money funding from Bank Jago, feels that the financing scheme is helped.

"We are greatly helped by this funding product in helping us manage the company's cash flow. The disbursement process is very easy and fast, within one day. With this support we are very confident to grow even bigger with Logisly," said the Director of Berkah Pratama mural.